We are starting to near the cliff edge, we are also starting clearly see we are in a falling wedge, will it save us or will we fall of the cliff.If we break out as normal with a falling wedge we may see some fomo as many will think that we have bounced of support, with many bulls looking tio play a double bottom trade. Question is will the bulls on the side line have what it takes to satiate he bears who have been in a full blood frenzy.
Good Luck. G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
@royh91, not really watching at the moment, it could stay in the flag formation for hours, looked like dropping as we closed the hours but has been held as we speak. Wait for confirmation
jaatrad
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@TroyByrne, do you think about double bottom at 6960k or pull back at 6979k (fib 0.5) ?
TroyByrne
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@jaatrad, I think it will trade sideways for a while , I dont have much faith in the markets psychological state as we stand, would take a lot to push us up higher. 7200 has become resistance now.
jaatrad
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@TroyByrne, you're amazing.... God bless you!! You're helping me.. It's morning here ...
I was sleepless
You was an angel :) I got some profit
I'm out of trade again
waiting something.... I don't know what's happening now...