We ended the last 4 hour candle with a green bullish spinning top doji, which is typically indicative of a bullish reversal...so far the follow up candle has been acting bullish..it will need a little volume swell to really validate the spinning top but being that it occurred after a long downtrend close to where we are already anticipating the bottom of the inverted head and shoulders 2nd shoulder, has drifted far enough from the tline that its due to start drifting towards it, and is currently being followed up by a green candle and increased bull momentum, I think its most probable that we will see some temporary upside on at least this next candle. currently the 50 and 200 EMA have yet to cross so that is a good thing...there's a chance they may not even touch but they are currently as close as you can get without touching.
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Such a pleasant thing to wake up to seeing the bull recovery that is playing off that red dragonfly doi + green spinning top doji combo! Glad I could put the idea out there 2 before dozing off. Not sure how far it will go before a retracement but there's a big buy wall right now around 10280 so that should likely keep us above that price range for a good while. Happy trading.
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10250 not 10280
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the buy wall has been broken time to short until you see a noticeable recover...good place to take profit.
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Well that was a nice reversal..as I said before though I don't think we'll be able to get the price back over 10500 and climbing until we dip back down to the support of 9500 possibly as low as 9200...its all part of the continued potential inverted head and shoulders that is playing out so no worries trade smart and you'll be safe in long positions and short ones.