Trade Plan
The market is digesting the breakdown of support at 1529 and consolidating above the lower boundary of a triangle on the daily chart (see related idea below). Look to initialise a short position on signs of weakness during retest of resistance at 1529.
Key Takeaways
Price is currently below long term support at 1529
The bottom boundary of a...
Trade Plan
Watching for wide range, high volume bars to breakout at the boundaries of the triangle.
Downside breakout profit target: 1283 - 1000 - trading range from June-July
Upside breakout profit target: 2030 - 2160 - Mid-August high to January low
Bias
Neutral - the downward direction of the trend channel from the weekly chart favors shorts. However,...
