This is another classic consolidation pattern showing up on the shorter term time frames. It already looks to be breaking out. The momentum and volume have remained substantial despite the correction, looking good for a push to 5000.
Still the possibility for a rollover remains as shown by the red arrow. In anticipation of this scenario, some nice 10-15% stop losses in place.
Still the possibility for a rollover remains as shown by the red arrow. In anticipation of this scenario, some nice 10-15% stop losses in place.
Note
Longer term view from an idea posted a few days back. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.