Coming down in to a strong level of structure, respected trendline so hopefully we range today / early next week as I would like the market to fall in to that support confluence in line with the 61.8% retracement.
No real bias now but from my previous post the luck luster move up from the completion of the gartley shows it may get faded if so I'll be looking for this triangle breakout to the downside towards 10700 figure if not then who the fuck knows, could be going higher. Long term from all the QE European equities will be a good shout to buy on a longer term basis...
Well we get a retracement to a major 50%, at the support of this long term trends bull flag, daily price action shows strong buying down at early 1700s. Could be a decent long.
Specific setup to follow when I enter.
Fundamentally and Technically this is a very nice short.
Fundamentals - Feds raising US Interest Rates which will lead to pre-release positioning from smart money.
Technicals - Big resistance cluster........
- Channel resistance
- Previous trendline support acting as resistance
- Previous dynamic support around the 1140 area acting as resistance.
- Fib Retrace...