Prices broke out of the triangle today but reversed a good portion of the gains by the end of the day. The somewhat pronounced reversal takes out a micro W3 out of the equation for today's wave, leaving a nested bullish set up as the only feasible bullish pattern. Continued upside should be expected as long as 2175 doesn't get breached.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish
* Trends
are not trade signals. Trends are posted for situational awareness
only and does not take into account wave counts, technical or
fundamental conditions of the market. While mechanically trading the
posted trends is feasible, keep in mind that these are lagging
indicators and as such are prone to whipsaws and I personally do not
use nor recommend them to initiate or close positions in the market
without taking into consideration other factors.
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