CME Futures Gaps| Structural Resistance| Correction Imminent
Hello Traders!
Today’s chart update will be on the CME Futures chart which has multiple gaps that are yet to be filled, a key indicator that a correction is imminent.
Points to consider,
- Trend over-extended
- Structural Resistance tested
- Bollinger band reversion
- Stochastics in upper regions
- RSI in overbought
- Volume currently trading below average
BTC’s trend is currently over extended as it hits structural resistance which is in confluence with the up trending resistance line. The Bollinger bands suggest that a reversion is probable as BTC tests the upper extended band.
The stochastics is currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the down side. RSI is currently overbought; a return back to neutral territory is highly likely from current levels.
The volume is currently below average – a very key indicator to watch at these levels as an influx of bull volume will send BTC breaking structural resistance.
Overall, in my opinion, BTC Futures chart indicates that a correction is imminent as history suggests that these gaps tend to fill sooner rather than later (see charts linked).
***The CME Futures chart should be used with a handful of indicators (do not solely trade of gaps only); the oscillators are quite extended so it is viable to say a correction will come to fruition.
What are your thoughts?
Please leave a like and comment,
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
Today’s chart update will be on the CME Futures chart which has multiple gaps that are yet to be filled, a key indicator that a correction is imminent.
Points to consider,
- Trend over-extended
- Structural Resistance tested
- Bollinger band reversion
- Stochastics in upper regions
- RSI in overbought
- Volume currently trading below average
BTC’s trend is currently over extended as it hits structural resistance which is in confluence with the up trending resistance line. The Bollinger bands suggest that a reversion is probable as BTC tests the upper extended band.
The stochastics is currently in the upper regions, can stay trading here for an extended period of time, however lots of stored momentum to the down side. RSI is currently overbought; a return back to neutral territory is highly likely from current levels.
The volume is currently below average – a very key indicator to watch at these levels as an influx of bull volume will send BTC breaking structural resistance.
Overall, in my opinion, BTC Futures chart indicates that a correction is imminent as history suggests that these gaps tend to fill sooner rather than later (see charts linked).
***The CME Futures chart should be used with a handful of indicators (do not solely trade of gaps only); the oscillators are quite extended so it is viable to say a correction will come to fruition.
What are your thoughts?
Please leave a like and comment,
And remember,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
