With 7400+ point movement yesterday, the trend has resettled back within the original channel before the huge Bull vs Bear correction that was bound to happen some time or later. I did not trade the whole shebang 🥺 as nothing was certain at the time. Now with viable Supports and Resistances available I may re-enter the market as NYSE open.
If the price breaks the top of the channel with a relative close (closes) above, it could open the 1976.30 zone as final Resistance in turn re-open the sentiment 2000$ mark.
If the price closes below the channel, again relatively, it could open the door for the nearest supports and if all fail to final Support 1912.60
Otherwise I will trade within the channel, Long and Short positions, 750 points swing swing ... but with higher Long margin as the bias (according to my channel) has returned back to the bullish trend.
Watch for bounces off the SMA20 and SMA50, also their crossovers as well as the respected SMA20 on the 1H time frame to enter the market.
Trade the Channel (inside or out) and Prosper 🖖
If the price breaks the top of the channel with a relative close (closes) above, it could open the 1976.30 zone as final Resistance in turn re-open the sentiment 2000$ mark.
If the price closes below the channel, again relatively, it could open the door for the nearest supports and if all fail to final Support 1912.60
Otherwise I will trade within the channel, Long and Short positions, 750 points swing swing ... but with higher Long margin as the bias (according to my channel) has returned back to the bullish trend.
Watch for bounces off the SMA20 and SMA50, also their crossovers as well as the respected SMA20 on the 1H time frame to enter the market.
Trade the Channel (inside or out) and Prosper 🖖