If I discount the tops at 10k+ as false hopes driven rallies not supported by much (see volume signatures on those days) ... this looks like a classic P-Wave forming to me, with a statistical probability of breaking to the upside.
What do you think? Please lmk in the comments below! :)
If it drops below 9.150 .. seems like a good place to ladder in shorts on low lev. with tight stops to the upside.
if it drops below 8.8 ... ladder in more.
if it snaps down and up ... that seems bullish enough to me if it is quick enough and bounces above 9.5k, at which point 9.8 - 10k seems (once again) like the next logical test to the upside. And if it breaks that ... 10.5k seems like the next resistance level on the horizontals.
either way, i expect some fireworks this week, even in the next few days or less.
happy trading!
ps: Thoughts? Please lmk in the comments below! :)
What do you think? Please lmk in the comments below! :)
If it drops below 9.150 .. seems like a good place to ladder in shorts on low lev. with tight stops to the upside.
if it drops below 8.8 ... ladder in more.
if it snaps down and up ... that seems bullish enough to me if it is quick enough and bounces above 9.5k, at which point 9.8 - 10k seems (once again) like the next logical test to the upside. And if it breaks that ... 10.5k seems like the next resistance level on the horizontals.
either way, i expect some fireworks this week, even in the next few days or less.
happy trading!
ps: Thoughts? Please lmk in the comments below! :)
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