Falling TL breakout & re-test happened, inverted H&S manifesting. market to rally higher in short term.
Volume profile indicating target zone of 2720-2760.
Medium term remains bearish, market in distribution phase.
Comment
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Market moving up as expected, already 70-80 points up from the moment we spotted opportunity on 7th April. It appears to have completed small triangular corrective B wave in this short term upmove. Movement up may be faster now in wave C.
Trade closed: target reached
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Target of 2720 nearly touched, but there is no short signal yet. Use trailing stop now to ride further on long side. Stiff resistance near 2740.