4674 / 4711 provided good trade opportunities. The bull/bear tug of war at 4700 region will resolve by 1) price returns to channel and continue upward (whipsawing still expected) 2) Exit of channel, market rotate / mushroom over
Weekly: Shortening of thrust and narrowing of spread. Price closed about level with the 2 bars before it, volume is low. No demand for higher prices at the moment. = Weakness may be expected Daily: Upthrust bar closing off low on background of minor strength. If next bar closes higher. strength will continue, wait for pullback to long. If next bar closes lower will confirm weakness, wait for test of resistance to short. H4: Indecisive
Entries will be based on price reaction to the levels Short = Test and Reject | Long = Test and Accept
4764 4733 4668 4648 4613 4590
Remember to like and follow if you find this useful. Have a profitable trading week.
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.