My idea is the market will make it's way down through Supports S1 to S3. With S4 the lowest Support @ 1793.33 where we have a major Support and Resistance zone. I do not believe that the trend will be a nice gradual slope but rather choppy near Support zones.
I am not negating the idea that if the price breaks and closes above 1810.90 a bull run pushing to Resistance R1 followed by R2 could come into play. A trade in that direction is risky as on the 1H and 4H time frames we have been mostly bear biased since the 08.07.2020 high spike. Having a long position open above 1800 in a market with a price ranging 1500+ points day is not ideal for me personally.
That said ... R1 and R2 makes for perfect sell entries in the event😉
Trade short(or long) and Prosper 🖖
I am not negating the idea that if the price breaks and closes above 1810.90 a bull run pushing to Resistance R1 followed by R2 could come into play. A trade in that direction is risky as on the 1H and 4H time frames we have been mostly bear biased since the 08.07.2020 high spike. Having a long position open above 1800 in a market with a price ranging 1500+ points day is not ideal for me personally.
That said ... R1 and R2 makes for perfect sell entries in the event😉
Trade short(or long) and Prosper 🖖