As per the bullish fractal that has formed on the four hour and below charts; the fractal is actually more in line with what we expect to see on the daily chart. This means we could very well be on our way to our double top. My entry was 10,329 and stops have been moved into profit at 10,600. We will atleast fulfil the smaller fractal top of 11,050; however there is a very good chance we will see 13,250. I will keep my longs open and open some hedged shorts laddered in at 11,000-11,150 with a stop loss at 11,300. Else, if we break these levels we will hit our double top of 13,250 where I will switch to shorts.
Comment:
Daily is looking good to take us to the double top. This would suggest a large green candle is coming sometime within the next 24 hours. Stops have however been moved further into profit at 10,700 in case we find resistance at the low 11K levels.
Comment:
Looks set to go to 13,400ish. Be aware of a possible retrace back to 11K before the next leg up as highlighted in the below screenshot.
Comment:
Looks like we are about to have our retrace back down to 11K. Longs were stopped out in profit at 12,092. Have opened some small shorts from 11,900 with a view to close at 11,100. I have more longs laddered in and waiting from 11,150 down to 10,950.
