Following a strong weekly bullish wick at the end of December, GJ has continued to smash through previous resistances. We saw a 3 week correction and are now back into an impulse move, identified by last week spinning top. It has now blown past by daily TL (green) which confirms even further bullish momentum, however, daily time frame signifies a weakness in further bullish movement.
My strike zone matches a retest to re-enter this position of my upper TL that has been broken and also matches a 3rd strike zone for the lower TL. It is also in confluence with 0.5 fib and a key weekly S&R area. Will wait for daily spinning top, or multiple rejections to the 143.000 area before entering.
Entry:143.000
SL:142.200
TP:146.000
My strike zone matches a retest to re-enter this position of my upper TL that has been broken and also matches a 3rd strike zone for the lower TL. It is also in confluence with 0.5 fib and a key weekly S&R area. Will wait for daily spinning top, or multiple rejections to the 143.000 area before entering.
Entry:143.000
SL:142.200
TP:146.000