Hello to you.

Many traders want to see the price reach the (D) area, a 5K area at the bullish break of point (C).

But that will depend on how the Wykoff Zone plays out, as we are soon to enter phase B of the Wykoff model.

It does look like a bullish Wykoff, but Wykoff is a reversal model, -so it is very subjective on price lows and highs and not on market structure.

According to the RSI , “C” is in a demand zone , and there is a higher low for that demand zone , which is supported by the weekly time frame. Okay. But, it is a weak higher low.

If the price breaks above 2786.70, we will have a strong bullish momentum. For the time being, right now, with its bearish candle, it is neutral.

The 3672.99 is significant resistance, and the price can sharply drop from there. The bias is the QML 4400, and again, the price could sharply drop from there. 

So, (D) is really far. Is it a good investment then?

🙂

.
Khiwe

On this profile page, the shared analysis, ideas, and strategy of a chart belong to Khiwe, with some being influenced. The technical setups are speculative; they are not guaranteed for accuracy or completeness in the form of any content, and they are not intended to provide financial market advice. Please apply your own analysis and confirm it with price action.