Hi Guys,
after the price broke through a strong price level at round about 11500.00 to the downside, the last week started with a strong bullish move in direction to the 12000.00 mark again. The price found resistance at 12130.00 at the trendline, pulled back and is now starting to attack this level again. We have a strong level arround this zone builded up previous in october, so I am expecting price respecting the trendline andcoming back to the pricel level at 11500.00 in short term (red line).
In the long term (violett line) I am expecting a pullback in direction to our trendline again and a strong bearish move back to the price level round about 10700.00.
Always keep in mind, that the price can break our trendline with his current move, so it is important to watch the price movements and volume. Do not enter your trades to early. If we get the right confirmation in this setup, it will provides a perfect risk/profit level of > 1:3.
Feel free to share your opinion!
Best,
Lukas
after the price broke through a strong price level at round about 11500.00 to the downside, the last week started with a strong bullish move in direction to the 12000.00 mark again. The price found resistance at 12130.00 at the trendline, pulled back and is now starting to attack this level again. We have a strong level arround this zone builded up previous in october, so I am expecting price respecting the trendline andcoming back to the pricel level at 11500.00 in short term (red line).
In the long term (violett line) I am expecting a pullback in direction to our trendline again and a strong bearish move back to the price level round about 10700.00.
Always keep in mind, that the price can break our trendline with his current move, so it is important to watch the price movements and volume. Do not enter your trades to early. If we get the right confirmation in this setup, it will provides a perfect risk/profit level of > 1:3.
Feel free to share your opinion!
Best,
Lukas