on the Daily chart
has been in a nice uptrend for most of the year. We are seeing a pullback right now and I'm looking for a good spot to jump on the Long side in this market. This 1250 area is where I think is a great spot to look at getting long. Good psychological number plus we have some structure looking left. We are back to the breakout area from the Brexit decision.
Right now I'm seeing a Double Bottom
on the Lower Time Frames (60 and 240min charts) at area that I like. Also note that the RSI
is showing MAJOR divergence.
Stops - Can either go right below the Double Bottom
or back below structure looking left.
Targets - Target #1 will be a retest of the highs. Target 2's will be a trail stop.
Best of Luck!