Halted at minor support area with high volume.
Overextended pull-down through major support.
Forming a accumulation zone.
This is for the next trading week.
After the large pull-down I'm looking for an entry long. I'm wary that we are in a long term downtrend hence my plan shows points of resistance where price might react violently. Especially at the 12055 area major support/resistance. If they bull through that it has a good chance of reaching ~12300. Beware of a continuation downward for it was a strong move.
I'll update this plan on Monday.
Please share you're opinions, I'd love to hear you're idea on this.
Have a great weekend traders!
Overextended pull-down through major support.
Forming a accumulation zone.
This is for the next trading week.
After the large pull-down I'm looking for an entry long. I'm wary that we are in a long term downtrend hence my plan shows points of resistance where price might react violently. Especially at the 12055 area major support/resistance. If they bull through that it has a good chance of reaching ~12300. Beware of a continuation downward for it was a strong move.
I'll update this plan on Monday.
Please share you're opinions, I'd love to hear you're idea on this.
Have a great weekend traders!
Order cancelled
During pre-market price moved to major resistance and then got rejected. It does have the looks of moving down more. Will have to wait for a better setup.