self explanatory image
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blue arrow , where i call , rejection and a big channel that we reentered
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be aware this area is always been a strong support resitence
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abovr 6500-6600 i will be confortable to go long, before that we could get a rejection.
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as son as we touch the top on the channel we encounter resitence as expected
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we broke the support resistence area, testing the residence of the channel.
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as expected figthign hard on this resitence.
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it looks is a rejection probably going to the arrow, id we break trough the yellow area. until then we could still reverse back
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as i said we are in the yellow are what some people call the dumb trade zone,you can do risky trading and short on the top and long on the bottom . i prefer to stay sideways until we know more.
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i think we will top in this previous support know resistance, and 200MA , 100MA . it will be a great profit since the bottom 3800ish, so will probably not cross it.
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restest of the resistence and know support.
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support is holding still have a target around 50MA, or 200MA 100MA
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continuation idea.
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zoom out
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related idea
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so we slowly went to the big resitence and 200MA to break them, quite surprise with the strong bulls, less wait for the end of the day and see if we get a week to 200MA if not the last target is there
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Trade closed: target reached:
and we got there 120 since the bottom
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continuation idea we just broke on the daily.
