A lot of people holding longs just flatly gave up right at the bottom of yesterday's candle. The volume was also the highest since this whole downmove started.
Could we be looking at the bottom then? That is a possibility i cannot rule out. But we do have many hurdles to watch out for.
Resistances to break to make the bullish case are
1. 7500
2. The 1H EMA 200 ~ 7800
3. 8000
4. The 4H EMA 200 ~ 8800
5. The Daily EMA 200 ~ 8900
6. 9000
Once these are broken we will have confirmed the bullish case. Until then we treat this upmove as a correction.
Will post any trades i make in this thread so things are kept neat.
Could we be looking at the bottom then? That is a possibility i cannot rule out. But we do have many hurdles to watch out for.
Resistances to break to make the bullish case are
1. 7500
2. The 1H EMA 200 ~ 7800
3. 8000
4. The 4H EMA 200 ~ 8800
5. The Daily EMA 200 ~ 8900
6. 9000
Once these are broken we will have confirmed the bullish case. Until then we treat this upmove as a correction.
Will post any trades i make in this thread so things are kept neat.
Comment:
Move SL to breakeven
Move SL to breakeven
Comment:
Move SL to 6950
Move SL to 6950
Trade closed: stop reached:
Stop hit
returm 0.67x
Stop hit
returm 0.67x
Long 6830
TP 7500
SL 6650