The pressure is still on, and as indicated on the Kagi chart yesterday, I observed the potential for much lower levels due to the possible S/H/S pattern. The regression channel as ample room lower towards 18.0900 area, but the key is how we manage the 18.2900 area (confirmed break or not). we are oversold but not extreme.
Strategy BUY @ 18.2750 - 18.3000 area but keep very tight stop, as the chances are we may go lower. If indeed we hold this area profit area should be around 18.4450 for now.
Play range 18.2750 - 18.4950 for now until broken below 18.2900.
Strategy BUY @ 18.2750 - 18.3000 area but keep very tight stop, as the chances are we may go lower. If indeed we hold this area profit area should be around 18.4450 for now.
Play range 18.2750 - 18.4950 for now until broken below 18.2900.
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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.