Observation:
Bull flag created with a Pennant, after falling wedge.
Pennant breakout weak.
Volume is weak at the Pennant (edge) breakout, cannot see much of a bull followup momentum
December the 18th, nearing Christmas holidays which are traditionally selloff to mid early January
Pullback from the peak does not fit well into the Fib chart replacement, should have had more of a pullback then a stronger candlestick.
14 Daily EMA acting as a resistance
Conclusion:
Market undecided and hence rather wait for more higher highs and a strong push through the 3600 strong resistance.
Watch the 4 hrly candlesticks to help make decision
Bull flag created with a Pennant, after falling wedge.
Pennant breakout weak.
Volume is weak at the Pennant (edge) breakout, cannot see much of a bull followup momentum
December the 18th, nearing Christmas holidays which are traditionally selloff to mid early January
Pullback from the peak does not fit well into the Fib chart replacement, should have had more of a pullback then a stronger candlestick.
14 Daily EMA acting as a resistance
Conclusion:
Market undecided and hence rather wait for more higher highs and a strong push through the 3600 strong resistance.
Watch the 4 hrly candlesticks to help make decision
Trade active
more details.Trade active
Critical moment at the 3550 range on the 5 min chart. Can we get the volume, so far the volume is no were close as yesterday. I think it will be short https://lived.https://www.tradingview.com/x/rGjsrS33/Trade active
Its the highest its going tonight, hard call but I make it. However I would say things are looking bullish and when it pulls back to 0.5 to .618 retracement, its worth jumping in. 30min chart>.Trade active
It turned out to be 0.618 Fib. retracement. One can see a number of favourable patterns and candlesticks.. I will now expect a pullback to the 3580 to 3600 where 3600 being a support level range.Note
To me, it makes sense to sell some off on the way up even though we have a small bull trend,50% at this point. We are going to see in my opinion what's happened many times before, a selloff in December and we are still not out of the overall bear market. Taking advantage of this up trend is great but we are going to go down again between the 3100 to 3300 range. 15 min chart > more details Trade active
Daily chart shows 3 days of uptrend which has been a rare even for the past month but we also had a disappointing rally and one can see from the chart, we are starting to run out of steam. We have past the 14 Daily EMA so we would see this correction which is about 3555. This just supports my opinion that we don't have much HH to go. Note
Lets see what happens to this 4th daily candle, I think it will tell the whole story. I was hoping we would hit the 400 range but at this point, 3800s is the max.Note
ssarijust now
I meant 4000s range but at this point, 3800s is the max.
Trade active
where are we at the high https://level...https://www.tradingview.com/x/W56ch4yY/Note
3750 as it turns out is the strong resistance where it was the strong support on the way down (8 points touching this). Hence I would expect a pullback and then another attempt with a stronger rally as the 1st attempt on such a resistance usually fails. Retracement to the 14 EMA \ support line or .5 to .618 Fib.Trade closed: stop reached
Game over, bearish now > Broken 2 items, 14 EMA line (in the 4hrly candle) and wedge support. 
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.