Context:
price failed to take out the highs at 14000 and the result was an increase in the downside momentum
we curretly trade near the 50%mark of the major rally , at arround 11215 , the path of least resistance is down
so one should wait for a clear sign of buyers stepping into the market , before considering any longs
at best wait till price trades at the extremes..
Trade Opportunities:
Long:
Reversal at 50% mark 11215
Reversal after broken supply line +Higher Low
Short:
Break of 50% mark at 11215 + retracement
Signs of strength:
none
Signs Of weakness:
increased selling pressure
Support:
11500
11215
10600
Resistance:
12800
13600
14000
www.invezted.com
price failed to take out the highs at 14000 and the result was an increase in the downside momentum
we curretly trade near the 50%mark of the major rally , at arround 11215 , the path of least resistance is down
so one should wait for a clear sign of buyers stepping into the market , before considering any longs
at best wait till price trades at the extremes..
Trade Opportunities:
Long:
Reversal at 50% mark 11215
Reversal after broken supply line +Higher Low
Short:
Break of 50% mark at 11215 + retracement
Signs of strength:
none
Signs Of weakness:
increased selling pressure
Support:
11500
11215
10600
Resistance:
12800
13600
14000
www.invezted.com