Another breakout happening soon?
Updated
BUY
- Buy around 550 within the area between 550 and 575
- If it can’t break 590, it might go back to the range of 550 – 575 in hope to forming a lower level of volatility of less then 7% - shake out the previous hands in Jan & Feb (+90%)
SELL
- SL is around 515 with a -7%
- Observe accordingly since there are multiple resistances from years back
RATIONALE
- Reduced volatility towards the right of the chart
- Another smaller cup might be formed within the cheat area if it can’t break the previous high
**the analysis is solely for my own references and learning
- Buy around 550 within the area between 550 and 575
- If it can’t break 590, it might go back to the range of 550 – 575 in hope to forming a lower level of volatility of less then 7% - shake out the previous hands in Jan & Feb (+90%)
SELL
- SL is around 515 with a -7%
- Observe accordingly since there are multiple resistances from years back
RATIONALE
- Reduced volatility towards the right of the chart
- Another smaller cup might be formed within the cheat area if it can’t break the previous high
**the analysis is solely for my own references and learning
Note
Due to overall bad market sentiment, it went down but a long lower shadow shows hope
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