Bounce up from support line:
Entry Point: Consider entering a long (buy) position in WIG20 once the price confirms uptrend continuation by rising from support marked on a chart. Recommended entry at 2025.00.
Stop Loss: Place a stop-loss order at 2000.00.
Take Profit Target: Set the first target price at 2129.00 at the resistance level.
There was a big rally on the WSE recently - 16 green Heikin Ashi candles in a row. Now it's time for a continuation of the downtrend or, less likely, a correction in the new bullish trend.
Why? There is:
- an important supply-resistance level
- a supply zone
- 1-hour confirmation - Head and Shoulders formation
- weekly confirmation - an ending bearish candle
and...
The reading, preliminary, of CPI inflation for July did not bring much surprise. The dynamics amounted to 15.5% y/y equaling the June reading. A large part of the market assumed that a month ago we observed a peak in dynamics, meanwhile we received a flattening. From the MPC's perspective, this doesn't change much (sub-1x25b expected). Interestingly, we received a...
EN: It seems to me that after a few days of gains it is time for WIG20 to fall. It doesn't have some big confirmation, that's a gap and a pinbar. How do you think?
PL: Wydaje mi sie, ze po kilku dniach wzrostów nadszedł czas na spadki na WIG20. Nie ma to jakiegoś dużego potwierdzenia, ot luka i pinbar. Jak uważacie ?
*** long term setup *** suggest small position only ***
Main Polish index = WIG20 [including GPW:CDR / CDPROJEKT]
Shooting star has been confirmed by bearish candle which was closed below previous. Believe that the price area around 1700-1800 will be tested once again in order to accumulate long positions .
Polish index is one of the last which have...
