A nice strong rejection of support with an inside bar from yesterday.
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I will be looking to go long just above the high of today's candle. We will probably see a retrace of the bar tomorrow however there is enough space above to allow a looser entry and give me the return I am looking for.
My pending will be set above the high but not on it, I want to enter on a break.
Expect some short term resistance on the 8-21 EMA area. If we close in this range tomorrow then it is wise to look for price action to suggest an exit, but we are still in an upward trend so it is a good bet that we will see enough momentum to clear it by mid next week.
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I will be looking to go long just above the high of today's candle. We will probably see a retrace of the bar tomorrow however there is enough space above to allow a looser entry and give me the return I am looking for.
My pending will be set above the high but not on it, I want to enter on a break.
Expect some short term resistance on the 8-21 EMA area. If we close in this range tomorrow then it is wise to look for price action to suggest an exit, but we are still in an upward trend so it is a good bet that we will see enough momentum to clear it by mid next week.