Weak longs trapped. I suspect market maker will run stops on weak longs before push higher.
Comment:
For short, i want to see price break and close below the 780 level fast move /parabolic. Any retracement into blue box, i will look for bearish pattern to get short. It may not retrace and keep moving lower and run stops on trend line longs.
If price moves and breaks above the 900 level aggressive and fast move higher and closes above the most recent high. Likely will cut short position and /or close and change bias and look for long pattern in anticipation price will move higher to 1243 all time high. Overall, I'm bullish long term. But, i suspect big money can or will run prices lower to run protective stops on weak longs. Once they orders are filled most likely they hunt for shorts protective stops. In this case, move higher.
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If price moves and breaks above the 900 level aggressive and fast move higher and closes above the most recent high. Likely will cut short position and /or close and change bias and look for long pattern in anticipation price will move higher to 1243 all time high. Overall, I'm bullish long term. But, i suspect big money can or will run prices lower to run protective stops on weak longs. Once they orders are filled most likely they hunt for shorts protective stops. In this case, move higher.