Hello Dear Swing Traders!
We all remember the August week from the 21st to 26th when plenty of buyers intended to break that level of 21900. All was in vain then. Now they have come back from as low as 18500 and that impetus was enough to break 22K. The question is whether that was enough to go higher? We can see a massive rising wedge in a 4-hour time frame. And our sell stop orders have been placed underneath the break-out candle - @21650. Once that trigger is filled the bull trap will be locked. At present no alternative to this is visible.
Yours,
ICBF Swinger Dagmar
We all remember the August week from the 21st to 26th when plenty of buyers intended to break that level of 21900. All was in vain then. Now they have come back from as low as 18500 and that impetus was enough to break 22K. The question is whether that was enough to go higher? We can see a massive rising wedge in a 4-hour time frame. And our sell stop orders have been placed underneath the break-out candle - @21650. Once that trigger is filled the bull trap will be locked. At present no alternative to this is visible.
Yours,
ICBF Swinger Dagmar