Patience is one of the key traits in trading. Last week we did not see much action, the price is ranging in a tight movement 20.4 points for a whole week. This week we are still waiting for a confirmation to short the market: (1) Price level at $1,390 is being respected and currently creating a "fake out" line. (2) My reversal zone remains at $1,400 (for now) (3)...
My overall sentiment is still Bearish bias . Today the opening price jumped 14 points and the bull kept running to the nearest Supply Zone. In general view, the seller is still strong and therefore, we participate in selling too. The nearest SELL area is between $1,395 and $1,400 (5 points zone), with a Stop Loss at $1,411. Our first Take Profit level is at...
Following up last week analysis, the price will be visiting Supply area prior going down. My personal Sell Order will be at $1,417 (it depends on the price action in the next 2-3 H4 candles, I may short it early too). The stop loss will be at $1,438 (New Higher High) and our Take Profit will be quite low (at least $1,275). The simple sign will be at $1,417 area,...
On H4, the price has broken the down trend channel and making a Higher High. From 27 January to date, the price movement is forming another flag on the higher band; also, to add some confluences, if we observed the Price Action on the candle stick, there were some rejection to go down. Based on the above, I think the price will pick up some liquidity at $1,417...
Let's keep it short, this week the price will be in ranging mode. The range is between $1,338 to $1,280. If you have shorted earlier, you can take profit some of your positions and keep some until it hits full TP at $1,280. If you are a speculator, now it is a good time to Long (buy) the market, but you must exit at $1,338 area; then switch to Short the market. In...
Week 03 analysis for ZSH 2021 . The price is now ranging at the lower band of the trend channel, and on the structure wise, there is no Higher High forming. It indicates the formation of the "head" and sellers are starting to jump in the market. Our key level remain at $1,370 and once the price passed below that level, our probability to short is higher. Stay tuned.
Apology for the late post. Week 02 for ZSH 2021 is still bullish looking. Yesterday on H1, we can see the price movement candle by candle that there were no sign of weakness. In the last hour of market, it created a strong rejection and buyer jumped in with a significant momentum. Let's see on the overall picture in H4, the movement is still within the Uptrend...