As we can see on the chart price stucked between important ma's values which can show price vollatility range and :
MA (100-200) price range: 1296 - 1255
EMA (50) showing nice resistance formed at 1288.5
EMA (10-20) still showing bullish moimentum but ready to cross after breaking 1283 zone
Oscillarors:
CCI & RSI after breaking negative tendention showing strong hidden breasih divergence
Support & Resistance zone's:
Monthly Pivot point blocking price move higher then 1288 but if we find some strong buyers next week price can go up to 1297
[Attention:
By the way accroding to structure price should make a fake break of channel formed from the end of last year and try to go upper to 1366 and 1390+ area's
Otherwise we can s trong upward impulse which targets can bueundetfied by the Fibenachi level/
Support for bullish scenarion gives double bottom with tweezers and failure swing inside Descending wedge structure
Would take short position on the market opening and update depending on situation during 13-14th May trading sessions
If we would find strong buyers on market which would break 1288 area on the chart might hedge my short with long to see fight for the 1295-1300 zone
MA (100-200) price range: 1296 - 1255
EMA (50) showing nice resistance formed at 1288.5
EMA (10-20) still showing bullish moimentum but ready to cross after breaking 1283 zone
Oscillarors:
CCI & RSI after breaking negative tendention showing strong hidden breasih divergence
Support & Resistance zone's:
Monthly Pivot point blocking price move higher then 1288 but if we find some strong buyers next week price can go up to 1297
[Attention:
By the way accroding to structure price should make a fake break of channel formed from the end of last year and try to go upper to 1366 and 1390+ area's
Otherwise we can s trong upward impulse which targets can bueundetfied by the Fibenachi level/
Support for bullish scenarion gives double bottom with tweezers and failure swing inside Descending wedge structure
Would take short position on the market opening and update depending on situation during 13-14th May trading sessions
If we would find strong buyers on market which would break 1288 area on the chart might hedge my short with long to see fight for the 1295-1300 zone
Trade active:
Closed 50% position, SL at BE point at 1296
Waiting for reaction at PP
Waiting for reaction at PP
Trade active:
SL moved to 1286
Trade closed manually:
20$ profit on 50% position closed waiting for reaction at channel support