My view from previously havent changed much, the market keeps going strong and there is no current top structure which should be appealing for strong bears.
However we have seen some bearish close previously as a first sign of weakness in this latest move, and there should be plenty of volumes for bulls to work with ones the ATH breakout traders jump on this move.
My plan for the following week.
I will keep buying every long-setup which gets presented, and will keep doing so until we have a clear reversal setup.
The reversal setup ill be looking for, is above 3410 (probably even above 3420) but the closer we get to these levels the more careful ill be with my long sizing.
What Im hoping to see is a breakout attempt, which should push the prices higher and bait in breakout traders. I do anticipate this trade to fail, since its a great time for bulls who has been buying since 3000 to cash in into the volume.
I do think we will see a beartrap from this profit-taking leading down below 3326 where new bulls will enter the market and bears can cover their shorts.
However need to be very careful trading this reversal, I will wait for either a clear failed breakout or a reversal setup to form.
Good luck everyone!
However we have seen some bearish close previously as a first sign of weakness in this latest move, and there should be plenty of volumes for bulls to work with ones the ATH breakout traders jump on this move.
My plan for the following week.
I will keep buying every long-setup which gets presented, and will keep doing so until we have a clear reversal setup.
The reversal setup ill be looking for, is above 3410 (probably even above 3420) but the closer we get to these levels the more careful ill be with my long sizing.
What Im hoping to see is a breakout attempt, which should push the prices higher and bait in breakout traders. I do anticipate this trade to fail, since its a great time for bulls who has been buying since 3000 to cash in into the volume.
I do think we will see a beartrap from this profit-taking leading down below 3326 where new bulls will enter the market and bears can cover their shorts.
However need to be very careful trading this reversal, I will wait for either a clear failed breakout or a reversal setup to form.
Good luck everyone!