Shorts were good while it lasted... looks like a good time to buy pullbacks.
It would be wise to wait for a clear 3 wave correction though.
Elliot Wave Analysis shows a larger degree wave IV was completed in March 2020.
Since then, the Russell 2000 has been nesting within a bullish rectangle chart pattern, possibly working its way up to the larger degree wave V.
Seasonality Chart shows a bullish April with a possible correction in May.
Nevertheless, I will not commit to long trades till the chart clearly shows that we are out of the woods. A clear 3 waves move down closer to 1800 in the hourly/4 hourly time frame would be a good setup.
It would be wise to wait for a clear 3 wave correction though.
Elliot Wave Analysis shows a larger degree wave IV was completed in March 2020.
Since then, the Russell 2000 has been nesting within a bullish rectangle chart pattern, possibly working its way up to the larger degree wave V.
Seasonality Chart shows a bullish April with a possible correction in May.
Nevertheless, I will not commit to long trades till the chart clearly shows that we are out of the woods. A clear 3 waves move down closer to 1800 in the hourly/4 hourly time frame would be a good setup.
Not
not going to turn bullish yet, another low could be possible.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.