Price action is squeezed between the 38% fib and the lower gap line…
More consolidation today…
Note the TRIX curling up 🙂 when this crosses and breaches the blue trend line I am expecting an impulse move up as before denoted by the yellow shaded areas…
These “impulse moves” occur simultaneously when the Stoch 5 is overbought and the TRIX crosses–this appears close to happening in the next few days…
RSI 14 still needs to breach 50…MACD histogram has gone bull
THE PRICE ACTION HAS CONSOLIDATED OVER THE 13 EMA; NEXT STEP IS FOR THE PRICE TO BREACH THE 34 EMA
When and if this occurs, forget about the indicators and stay in the trade using the 13/34 EMA…the indicators will go down but the price action will go up regardless of the indicators creating a “reverse divergence”…
Anyways, this is the plan currently, thinking out loud, still several hurdles…
gdx