The 4H chart shows the possibility of it breaking out from the bearish trend line and present a great buying opportunity. That is Option 1. If not, the price action could disappoint and heads further south towards the support (pink line) before we see a retracement.
If that is the case, it is a better entry price for the buyers. As it is too close to the support line and the chance of a trend reversal is likely, I would not encourage shorting at this juncture.
If that is the case, it is a better entry price for the buyers. As it is too close to the support line and the chance of a trend reversal is likely, I would not encourage shorting at this juncture.
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congrats to those who followed. The price action has now breaks out of the bearish trend line (red diagonal) and pushing higher as per Option 1.
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currently, the price action has just reached the 1797.44 which happens to be the resistance level and it also forms a nice head and shoulder pattern too. Let's watch tonight to see if there would be a pull back for buying opportunity.
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beautifully executed. now it has formed a nice Cup and handle pattern. The handle will be formed if the price follows the pullback and closed above 1797.44. That would be another buying opportunity for those who did not do so earlier.
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We need to see the next candle position next week. Will it closed above 1797.44 or below ? If the former, then we can buy else it can turn into a selling opportunity.
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what a disappointment ! It was a false breakout just like the price action on 4th Nov last month.
Expect price to get some support at 1750 level and rebound. Let's see how it perform this week.
Expect price to get some support at 1750 level and rebound. Let's see how it perform this week.
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we are initiating a small buy position as it finds support at 1739.82.
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Praise the Lord. Congrats to those who followed.
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Well, well , well. 5th time it is attempting to break out from the current stubborn 1797.44 level. This tug of war between the buyers and sellers have been ongoing for the last 3 months since Sept 19.
Yeah, it can be frustrating , it is like now you see (profits), no you don't (losses). Unless you are into short term trading, then I would say hang on there. Let the market do what it supposed to do and be loyal to the decision you had committed.
Have a little faith , so said Michael Burrow in Prison Break
Yeah, it can be frustrating , it is like now you see (profits), no you don't (losses). Unless you are into short term trading, then I would say hang on there. Let the market do what it supposed to do and be loyal to the decision you had committed.
Have a little faith , so said Michael Burrow in Prison Break
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Praise the Lord coz he is faithful in his words. Hanging on to his words, you act upon it by not panicking and sell off and your patience is paid off. It has now broken out of the resistance level at 1797.44 after nearly half a dozen attempt.
Next hurdle, 1849.80 where I expect some profit taking and pull back.
Next hurdle, 1849.80 where I expect some profit taking and pull back.
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Praise the Lord.
Buy on each pull back
Buy on each pull back
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not attachment but businesses
