Already net short at 1346.43 we're now back down testing the top of the channel. A bounce back up from this level is expected, trying to shake off some bears and getting bulls excited again. What ever target it finds support at after a range the exact opposite should occur.
If long targets are filled. I'l be entering a short at target 3. See if we can stay inside this channel for a nice little retracement.
Four key levels on my map indicating a correction back down in the channel. If its wrong then i have no problem hedging due to being in the middle of the weekly channel.
Bulls have taken back full control today, bouncing off previous structure and completely engulfing yesterdays move. A massive buy signal right on the moving average. If price breaks out i'll take a small loss as i'm averaged in at 1283.75 and enter in a long in search of target 5 at 1330.
Pure price action, No News, No Indicators... Except the all mighty 21 SMA Daily Chart Only
Nice big failure on UK100. After looking like it was on for a big sell off, bears tried 3 times and failed. Bulls will have confidence and start buying this back up to target levels.
If the bears can break the low i reckon we're in for a good sell off. Target 1 should be easy IMO. Second position will either be stopped out or a yet to print targeted measured move.
Ride the waves. Look out for failures. Daily chart only.
Due to the strength of the close today. This has every chance of blasting straight north bound, but i don't think it will do without a fight. This is a strong area of resistance. I think we might consolidate for a week or so trapping in bulls and bears giving it plenty of energy to continue up. I am short from 1288.75 so if this happens i should be able to get out...
Gold just having a little pullback trying to trap in bears in preparation for tomorrows NFP to target 3 at 1288. We will see.
Sell order waiting to get filled. Riding it down to target 2 & 3.
Long target 3 acquired. Entered a short sell for a little pullback in search of clearing out some long stops.
Long at the minute holding out for target 2 & 3. Sell the retracement back down, trailing stop until seller failure, buy back into failure try and hold on to final target. Sell final target, everyone will think the worlds collapsing then buy the failure at the .382..... #pipedreams
Buyer failure on trendline shooting for targets 2 & 3