BEARS are waiting to pounce at 3 key resistance levels
We are still in a secular bear market, the weekly still in a clear downtrend. Thus it is always favorable to short the market as it brings a higher probability of success.
3 KEY RESISTANCE LEVELS to monitor closely.
1. 24.276k: Resistance from the most recent high, also coming from a huge Supply/Demand Zone (GREY Rectangle) from Dec 20.
2. 24.886k: Resistance from the top of an ascending channel that is respected well. This is the trade I am monitoring closely as per setup shared. However, confirmation is always needed before entry.
3. 26.577k: Resistance from previous Support flipped Resistance at the weekly open on 13th June.
Patience is key here as from my perspective, no good RR Ratio trades are present.
3 KEY RESISTANCE LEVELS to monitor closely.
1. 24.276k: Resistance from the most recent high, also coming from a huge Supply/Demand Zone (GREY Rectangle) from Dec 20.
2. 24.886k: Resistance from the top of an ascending channel that is respected well. This is the trade I am monitoring closely as per setup shared. However, confirmation is always needed before entry.
3. 26.577k: Resistance from previous Support flipped Resistance at the weekly open on 13th June.
Patience is key here as from my perspective, no good RR Ratio trades are present.
Trade closed: target reached