The price has visited 4h support 4HS1 and has alrready bounced from there. This support zone 4HS1 presents a long opportunity towards the next resistance 4Hr1. Any dip to the zone is for the buy towards 4h resistance zone. If it manages to break 4Hr1, then the next traget would be daily resistance DR1. In case it breaks down from 4HS1, the next support level is daily support DS1 and will present another long opportunity.
Comment:
The price dipped to the 4HS1 again and bounced the way we expected. I see a good possibility for the price to experience some pullback in 4Hr1 zone and then continiue towards daily resistance. Anyways, I will book some profit here and will add that size on retrace. I will also update the chart if I see the confirmation of the price moving towards daily resistance DR1.
Comment:
The price pierced through the 4HR1 and headed towards daily resistance DR1 and that was also our expecttion. We also got a pullback at 4H resistance, though I could not take profit and add the size on pullback and instead the remaining position continuted to run. I will book some profit here by closing half of the remaining size. I believe daily resistance will pause the price and we will see some pullback and therefore, I will close the position when the price goes into this resistance zone, somewhere between 72.5-73.5.
Trade closed: target reached:
This trade got concluded as the target mentioned of 72.5-73 has been reached. I closed my position around 72.6. There was a good flush just now but could not benefit from it as I was not ready for the trading activity. Anyways, we will have another opportunity soon I believe on this one. I will share the chart in a separate post.
