1) On 04.03 i have spotted a after a good rise towards our downtrend line (log chart). That will be a good signal of reversal to movement. Next candle closed as another (we saw one at 20.02) and formed a pattern. Rejection from the very important level of 11600 - 11800 and our downtrend line, caused the reversal. Next 6 days it followed perfectly. and after 3 long red candles ( ) we saw a pin candle with some good movement upwards and then further movement down. My target for this pattern would be around 7500 and another interaction with our year-long and .
For a moment we had found support 8300 that has been a strong level from november 2017. Double interaction there caused a little bounce towards previous resistance levels at 9300-9700 and a green day after 6 red days.
From the market analysis point of view, movement during a whole week caused to open a lot of short positions, this sudden green candle caused a liquidation few good short positions and to open longs.
Today we had quite a dump again, liquidation of few longs and continuation of movement we had for a week.
1) Death cross for is not a good sign
2) on a prevent us to break out
3) We still didnt have a proper and a bounce from our year-long trend.
4) Today closure of the daily candle as we see it now can be a harami and reversal back to downwards movement.
5) Daily closure below the previous swing low 9300.
1) getting better, still far from what we want to see for days
2) Strong support at 8300-8500
3) and are overbought and just start climbing up so still way to go up.
Conclusion i am remaining and would like to see tomorrow daily closure to evaluate my positions. Don't forget your stop losses on any trade you will make.