Sell below 9175. Stop loss at 9464. Take profit at 7821. Reason for the trading strategy (technically): We see price testing its major resistance at 9175 (, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where we expect price to react off it, pushing it to its support at 7821 (50% Fibonacci retracement, horizontal pullback support). We do have to be cautious of the intermediate support at 8513 (100% Fibonacci extension, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support). Stochastic (89, 5, 3) tested its resistance at 96% where a corresponding reaction is expected.
@alerom, yeah sure, after its been correcting for 4 months. It will drop, no doubt, but i sure hope not much and it keeps going up, im no trader or nothing, just been watching it closely since last year. Sure it could go down, like right now its seems to be correcting a bit