outlined are major S/R levels, I am looking for a "dead cat bounce play if the down side momentum can reverse from this level over the next few weeks.
I would like to see either two scenarios play out rejection at 5980 or consolidation above 5980. Currently looking for longs if we can find a trend to the upside as a relief rally, entering short from this level is high risk as we may see a short squeeze if we do get a relief rally to R1.
I would like to see either two scenarios play out rejection at 5980 or consolidation above 5980. Currently looking for longs if we can find a trend to the upside as a relief rally, entering short from this level is high risk as we may see a short squeeze if we do get a relief rally to R1.
Comment:
XJO trading at the lower level of the range above S1, still looking for the market to test 5980 upper level of the range but the Australian economy is have an extremely weak bounce in this market. If we break down from this level and trade under s1 i'll be looking for shorts within this market (APT)