WEEKLY
DAILY
4 HOURLY
Our Technical analysis are based on Cloundra Propriety system, which has proven 85% accuracy in providing the next market movement. Readers need to learn Cloundra Trading System for them to understand this technical analysis.
Weekly: Wave II is in progress and still no sign of completion. Any long term trade on weekly timeframe should be considered short term wave C and long Wave C for long term timeframe. A PGTL is also tested twice but no breakout yet.
Daily: Sideway triangle of the wave B of the correction. Once the triangle is completed, possible short trade of Wave C will lead to a reasonable profit.
H4: Completion of Wave E of the triangle can give us COD as we expect due to GRTL breakout, however, this will not be a profitable trade due to the tight range of the triangle. But formation of COD can provide clues to early entry for Wave C Short trade.
Next trade setup: Monitor H4 for completion of the Wave E of the triangle. and prepare risk management for C trade.