BEARS are waiting to pounce at 3 key resistance levels
We are still in a secular bear market, the weekly still in a clear downtrend. Thus it is always favorable to short the market as it brings a higher probability of success.
3 KEY RESISTANCE LEVELS to monitor closely.
1. 24.276k: Resistance from the most recent high, also coming from a huge Supply/Demand Zone (GREY Rectangle) from Dec 20.
2. 24.886k: Resistance from the top of an ascending channel that is respected well. This is the trade I am monitoring closely as per setup shared. However, confirmation is always needed before entry.
3. 26.577k: Resistance from previous Support flipped Resistance at the weekly open on 13th June.
Patience is key here as from my perspective, no good RR Ratio trades are present.
3 KEY RESISTANCE LEVELS to monitor closely.
1. 24.276k: Resistance from the most recent high, also coming from a huge Supply/Demand Zone (GREY Rectangle) from Dec 20.
2. 24.886k: Resistance from the top of an ascending channel that is respected well. This is the trade I am monitoring closely as per setup shared. However, confirmation is always needed before entry.
3. 26.577k: Resistance from previous Support flipped Resistance at the weekly open on 13th June.
Patience is key here as from my perspective, no good RR Ratio trades are present.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.