To answer my question, i don't know. What i do know is;
1) I see no signs that says the price will break. All i see is that the price is trapped between a major demand level 1280.70 and a falling trend line which has been respected thrice. Meaning if this pattern holds, we should see another bounce from this level to push back up into the trend line.
2) The monthly candles haven't moved much, they are holding the structure of the last bullish candle. Indicating that, despite the fact that the market price is pushing down, the bulls are holding their own and waiting for re-entries around the said demand zone.
3) IF this demand zone breaks, it will validate sells for me but i'll need a daily breakout first for confirms.
4) I will not take any trades until i get enough information on this weeks' general direction bias.
1) I see no signs that says the price will break. All i see is that the price is trapped between a major demand level 1280.70 and a falling trend line which has been respected thrice. Meaning if this pattern holds, we should see another bounce from this level to push back up into the trend line.
2) The monthly candles haven't moved much, they are holding the structure of the last bullish candle. Indicating that, despite the fact that the market price is pushing down, the bulls are holding their own and waiting for re-entries around the said demand zone.
3) IF this demand zone breaks, it will validate sells for me but i'll need a daily breakout first for confirms.
4) I will not take any trades until i get enough information on this weeks' general direction bias.
Order cancelled
