invezted.com
Context:
price remains in its range with support beeing 2043 and resistance at 2134
its building a cause for the next move , depending on the change of supply and demand
Location:
Price currently resides at the "mean" of the range at 2090 one could say we trade at "fair" value
and these locations usually mean chop , also they give further insight on the future course
ie. on a rejection to the downside we will visit support again and vice versa
Price Action
Price is in a decline from the resistance level and currently formed a minor range between
resistance 2095 and support 2080 , whereas we broke to the upside , price declined back
into its range and sits at the mean of 2088
Conclusion:
intraday wise one could take a chance and play a long setup at the current mean of 2088
howver as we had some overbought conditions at hands , one should be quick at taking profits or scratching the trade,
on the short side wait till price breaks the support level of 2080
support:
2088
2080
2044
resistance:
2100
2115
2135
Context:
price remains in its range with support beeing 2043 and resistance at 2134
its building a cause for the next move , depending on the change of supply and demand
Location:
Price currently resides at the "mean" of the range at 2090 one could say we trade at "fair" value
and these locations usually mean chop , also they give further insight on the future course
ie. on a rejection to the downside we will visit support again and vice versa
Price Action
Price is in a decline from the resistance level and currently formed a minor range between
resistance 2095 and support 2080 , whereas we broke to the upside , price declined back
into its range and sits at the mean of 2088
Conclusion:
intraday wise one could take a chance and play a long setup at the current mean of 2088
howver as we had some overbought conditions at hands , one should be quick at taking profits or scratching the trade,
on the short side wait till price breaks the support level of 2080
support:
2088
2080
2044
resistance:
2100
2115
2135
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.
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.