Based upon Fib. Time analysis, We should expect a strong move in roughly 30 Hr. from time of this post.
This move can be in either direction but if we held above 7.8K till then, we should expect this move in upward direction. 7.8K is the key level as this is 61% retrace of recent swing high.
How to Play It:
Ideally i will be waiting for consolidation above 7.8K till we reach blue vertical line in next 2 days. if it holds true we will buy with stop loss below recent low and will target 11K region.
This move can be in either direction but if we held above 7.8K till then, we should expect this move in upward direction. 7.8K is the key level as this is 61% retrace of recent swing high.
How to Play It:
Ideally i will be waiting for consolidation above 7.8K till we reach blue vertical line in next 2 days. if it holds true we will buy with stop loss below recent low and will target 11K region.
Order cancelled:
We are about to reach target time frame to enter long.
However, wave structure does not favor long position. Instead of going long, We will stay on sideline as i expect a deeper correction to 7.8 - 7.4K region
However, wave structure does not favor long position. Instead of going long, We will stay on sideline as i expect a deeper correction to 7.8 - 7.4K region