Now or Never, 16 Feb 2023

15 ก.พ. 2023

🖼 Daily Technical Picture 📈

➤ For the fourth consecutive day, price finished the trading day higher than the open. All this "bullish" action has occurred within the shadows of the large "bearish" bar on 9th Feb.

➤ Yesterday, I looked at the Bearish case of this "laboured" move. Today I'm going to touch on the Bullish story.

➤ The case for being Bullish is quite simple. The market has formed a Bullish "flag" technical chart formation. This is a minor retracement where prices whipsaw up and down either in a sideways or slight downward manner within the primary Bull trend. At some stage, price will then accelerate higher by breaking above this price congestion.

➤ The 4 consecutive up bars of recent days is telling us that despite the best effort of the Bears, the Bulls have overcome them.

➤ Conclusion: It is now or never for the short trading plan. Another day like today would see me switch camps to the Bulls.