In my last idea, I mentioned my bull invalidation level at 16,787 and said that wicks don't invalidate it.
This level has held pretty well for now, however I have an alternate count which would allow us to break it before going higher, so keep that in kind.
This being said, I'm gonna talk about the 2 scenarios I'm interested in.
1st one:
We have an OB at 17,150. We reject it then move down and break the lows. So the high of the range was put in last monday.
2nd one:
We reject the OB, take the liquidity at 16.3k then bounce and reach for my 19k target.
Of course those are just what I'm personally looking at, we could simply pump now and break the highs without seeing a move down.
However, I would be aware of the potential of 17,417 being the range high, as quite a lot of people are also expecting higher. So I really wouldn't mind this being the high, and whether we're going higher or not, I'd like a bigger move down first.
Any questions?
Good luck traders
Remember not to break your rules
Habib
This level has held pretty well for now, however I have an alternate count which would allow us to break it before going higher, so keep that in kind.
This being said, I'm gonna talk about the 2 scenarios I'm interested in.
1st one:
We have an OB at 17,150. We reject it then move down and break the lows. So the high of the range was put in last monday.
2nd one:
We reject the OB, take the liquidity at 16.3k then bounce and reach for my 19k target.
Of course those are just what I'm personally looking at, we could simply pump now and break the highs without seeing a move down.
However, I would be aware of the potential of 17,417 being the range high, as quite a lot of people are also expecting higher. So I really wouldn't mind this being the high, and whether we're going higher or not, I'd like a bigger move down first.
Any questions?
Good luck traders
Remember not to break your rules
Habib
