Bulls on Parade?

Dropping back in to try and keep us up to speed in this quick pace market! This post will be short and to the point. From the last time I left off we were looking for a BUY opportunity to present itself as I was a firm believer we were in a X wave that has taken shape of a FLAT. Well it looks like the bulls are not willing to let anyone hop on board so easily. They have eagerly pressed against the gates and are waiting for them to burst open. From the lows of 7.1k we have made a strong H4 move up to range high and M1 open @7560. Although volume shows some bearish divergence I am one to believe that the volume wont come until after range highs are taken out. If we do that I feel a lot of liquidity lies in that range and thus volatility will most likely come flying in then. So volume can help you at times but at others it can be misleading so you must have other evidence to back you claim in volume. What I want to see from the bulls is consistent H4 closes over $7448 for the next 24hrs to aid our idea. If we manage to do that I can see longs open with a target of 8.1k minimum. If start trading back in range (below 7448) we will most likely perform a running flat for W2 of wave C. A break below 6.9k will be the dagger for any bullishness and will lead to an extreme sell off but I believe more pain lies up above so thats where the whales will push price to before sending it back down.


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