Entered long at 5913 on bullish bat forming 2 days ago, now we have a kumo cross, TK cross, cloud breakout and RSI breakout all bullish. The OBV still cant get above the level that held as support since October 2017. Bearish Bat could possibly be forming as well after the next leg of this movement up. I am bullish up to 7.5k if RSI resistance can turn to support and we can break above the OBV level and see the bat fail. However volume is not exactly convincing and the precise levels on the bat harmonic means 6.7k is likely to be a very strong resistance.
I am looking to add to my position at 6.3k where the cloud/daily open level can hold as support at what would be at the bottom of the flag.
I would be stopped out of all long positions in profit below the weekly close level at 6.1k
I want to short 6.7k or 7.5k. Nothing shows we will be breaking bearish market structure anytime soon
I am looking to add to my position at 6.3k where the cloud/daily open level can hold as support at what would be at the bottom of the flag.
I would be stopped out of all long positions in profit below the weekly close level at 6.1k
I want to short 6.7k or 7.5k. Nothing shows we will be breaking bearish market structure anytime soon
Comment:
1D OBV/RSI currently meeting resistance, but OBV has broken out of downtrend since 12k, if resistances are broken I wont be looking to short or take profit on my longs anytime soon