Halted at minor support area with high volume.
Overextended pull-down through major support.
Forming a accumulation zone.
This is for the next trading week.
After the large pull-down I'm looking for an entry long. I'm wary that we are in a long term downtrend hence my plan shows points of resistance where price might react violently. Especially at the 12055 area major support/resistance. If they bull through that it has a good chance of reaching ~12300. Beware of a continuation downward for it was a strong move.
I'll update this plan on Monday.
Please share you're opinions, I'd love to hear you're idea on this.
Have a great weekend traders!
Overextended pull-down through major support.
Forming a accumulation zone.
This is for the next trading week.
After the large pull-down I'm looking for an entry long. I'm wary that we are in a long term downtrend hence my plan shows points of resistance where price might react violently. Especially at the 12055 area major support/resistance. If they bull through that it has a good chance of reaching ~12300. Beware of a continuation downward for it was a strong move.
I'll update this plan on Monday.
Please share you're opinions, I'd love to hear you're idea on this.
Have a great weekend traders!
Note
During pre-market price moved to major resistance and then got rejected. It does have the looks of moving down more. Will have to wait for a better setup.
Order cancelled
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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.