This consolidation is starting to look very similar to the smaller one that came before it. Historically, all daily CME gaps get filled eventually and this should be the most opportune time to do so as there are two CME gaps below at 8450 & 7200.
The trigger for this trade is a break below 8900, with a maximum target of the lowest CME gap at 7200.
This idea will be invalidated by a higher high above the top of the marked green box.
After a reversal around one of the key areas, I expect the price to continue in the major trend direction upwards towards 11500 and 13500.
The trigger for this trade is a break below 8900, with a maximum target of the lowest CME gap at 7200.
This idea will be invalidated by a higher high above the top of the marked green box.
After a reversal around one of the key areas, I expect the price to continue in the major trend direction upwards towards 11500 and 13500.