Is A Pullback Due Or Are We Shooting Up Into The Unknown?

Updated

This pair did a nice swing buy for the entire week last time. But, according to the daily, we may be running out of a little steam just for a bit. I saw that we wicked out at the daily level, so we may be due for a pullback coming down to the monthly area around 3897.3. That will retest the last higher high and then create a continuation up if respected.

If it busts through the monthly. I'll ride it down to the daily area around 3788.3 to see if it'll try for another bull run from there.

As you can see, my BULL TP went into unknown territory. That's what I'm looking forward to in the long run. But let's focus on what'll happen this week first.

BULL TPs:
• 3960.4
• 3979.5
• 4032.8

BEAR TPs:
• 3901.3
• 3870.8
• 3851.8
• 3788.3

Trade active

Still a very active trade.
Only made it to BULL TP2 on March 17th during New York session.
Then it dropped down to BEAR TP1 on March 19th during London session.
So this is pretty much ranging until all TPs from one side or the other is hit.

Trade active

Reached Bear TP3 before the reversal to the upside on March 25th during the New York session. I was hoping price would close below my monthly, but it didn't. The BULLS took back control.

So now we have a strong bullish move that can possibly continue this week. But with news mention a major block trade that happend at the end of last week. We could see a lot of volatility before going into new territory with SPX. Will have to wait to out and see.

Trade closed: target reached

All Bull TPs hit April 2nd, 2021

NikaJourney

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