Important levels for 17/10/2022.
By the looks of it we are in for a gap down open.39270-39360 will be an important area to look forward. We witnessed some aggressive buying at this zone, so if we are to see an up move the buyers will come in to defend these levels. Longs if triggered here will see targets of the seller reference from last session at 39600-39680. Prices staying above it can also test 39745 and 39923.
But if we sustain below 39270, there is good chance of price testing the old buyer reference zone at 38720-38800. Shorts taken can aim for 38976 as initial targets followed by the buyer reference zone mentioned.
By the looks of it we are in for a gap down open.39270-39360 will be an important area to look forward. We witnessed some aggressive buying at this zone, so if we are to see an up move the buyers will come in to defend these levels. Longs if triggered here will see targets of the seller reference from last session at 39600-39680. Prices staying above it can also test 39745 and 39923.
But if we sustain below 39270, there is good chance of price testing the old buyer reference zone at 38720-38800. Shorts taken can aim for 38976 as initial targets followed by the buyer reference zone mentioned.
Trade closed: target reached:
ENTRY: 39360
50% EXIT: 39680
REST EXIT: 39780
50% EXIT: 39680
REST EXIT: 39780