We're currently into a daily resistance block, and since we still haven't bounced hard off it and are proceeding to make higher lows, on lower timeframe, we can assume that the buyers are trying to push it through that resistance eventually.
Target is based on the weekly + daily resistance blocks.
Two possible strategies for the target of around 5627 to 6400 area.
- Aggressive:
Buy now, stop below previous low (3821)
- Tactical:
Buy on the retrace once it breaks above the daily green block with a stop below it, or based on the lower timeframe that develops in the meantime.
If it starts repeating the same scenario like now when it gets there, there might be even larger targets in play. But we'll get there in time.
Target is based on the weekly + daily resistance blocks.
Two possible strategies for the target of around 5627 to 6400 area.
- Aggressive:
Buy now, stop below previous low (3821)
- Tactical:
Buy on the retrace once it breaks above the daily green block with a stop below it, or based on the lower timeframe that develops in the meantime.
If it starts repeating the same scenario like now when it gets there, there might be even larger targets in play. But we'll get there in time.
Comment:
We dumped a bit but technically this is still a higher low, so let's see if we can get back above that block!
Comment:
Back at the lower support, has to hold this if it's to remain bullish
Comment:
Don't like where this is heading right now.