Long

Bulls monitor blue zone support

By tradingmotives

Updated

Nice validation of the blue Median Line. The lower end of the blue zone also coincides with a 50% retracement of the previous swing (P2 to P3)

Note

A break of support < 611 means deeper correction is unfolding & blue zone analysis will be invalidated

Trade active

Support in the blue zone held. Now monitor support along the lower parallel (or the sliding parallel just below) for new highs.

Trade closed: stop reached

Stopped out at 817. Deeper correction unfolding now.

Also on:

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.