STAY SAFE !
In our last post, start taking profits call before the 8800 to 9000 strong resistance was a perfect call. As we can see we touched 8800 and got a strong pullback.So I would recommend following the comments after the posts as well.
Lets see whats going on right now. 8800 to 9000 resistance is still there and an important thing is the 200 ema has moved in that range so the resistance is actually stronger at this point. However, if we break this level we will make a huge jump to higher levels but keep in mind that this is a tough one to breach. So wait for a confirmation before entering a position. Currently we are holding on to 50 ema and the bottom trend line of the channel we have formed.If we break this line we might see a drop to 7800 to 7600 levels. Be cautious if you are chasing a bounce from the bottom trend line.Put your stop losses in place since it might be a fast drop. As always be patient and position yourselves for multiple possibilities. And as always not an advice just a though!!
Previous post;
Lets see whats going on right now. 8800 to 9000 resistance is still there and an important thing is the 200 ema has moved in that range so the resistance is actually stronger at this point. However, if we break this level we will make a huge jump to higher levels but keep in mind that this is a tough one to breach. So wait for a confirmation before entering a position. Currently we are holding on to 50 ema and the bottom trend line of the channel we have formed.If we break this line we might see a drop to 7800 to 7600 levels. Be cautious if you are chasing a bounce from the bottom trend line.Put your stop losses in place since it might be a fast drop. As always be patient and position yourselves for multiple possibilities. And as always not an advice just a though!!
Previous post;
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