HAPPY 2024 wishing you a new year with happiness and health and lots of tps
My priority is protecting my asset then getting profit. As you see index is very close to a major s/r level, so i prefer close some of my positions.
After a long time, The last top has been broken by a weekly good bullish candle that can be a sign of correction ending. As all my views, after breaking a trend line and passing of a level, uptrend has been starting and it could be a good opportunity for entry by finding a good SL for it.
Starting new uptrend . This chart is a very clear and bright of Trend & correction. After a good trend, you can see a corrective wave finished in 50-61.8 Fib ret where I consider as a sure zone for end of a correction almost always. In my strategy, new uptrend starts after breaking of a descending trend line and passing out of a price level preferably a major one....
After the Breakout, It will be good to have a pullback at 4600. Personally, i will add my positions after a pullback. Lets see what will happen.
In my view, it is a pullback to a broken level and its been finished. There is a bullish candle as a trigger for entry to buying position. As always, find a good SL and then get decision for entry.
I suppose it is a breakout of a level and it can be a sign for rising toward 4800 . I have started buying new stocks and another part will be after pullback or another good bullish candle.
In my view chart is inside an uptrend and after passing of a major price level, it's pulling back to it. I'm waiting for a good trigger, e.g. bullish candle, for getting new buy positions.
As you see, chart has approached to a major resistance and I prefer close some of my positions gradually and after passing of this area, I will enter to new ones. Good luck
In my view, it can be a pullback to broken level, about 4200 , and after that chart will come back to downtrend and more dropping. All of the fundamental news is against the market and entry to any position, even short, will be too risky. Dont try swimming in stormy sea.
In my opinion, Chart will continue this corrective wave although it may have a reaction to this level but eventually, it will go down toward 4000 most probably. The possibility of returning from level 4000 is high and then I will get decision for entry to market again.
Uptrend In my view, it's started a new uptrend after a breakout of a descending trend line and passing of a price level. Next target would be 195 and 210 and sure place for SL at about 175.
Uptrend Passing of a level after breaking a descending trend line , is a very good opportunity for entry to position. Around 93 can be a good place for setting a sl.
As you see, The chart has been in a corrective wave and it has been finished after touching a PRZ at about 50-61.8 fib ret and also reaction to a top level. Low risk traders can wait for passing of 186 then get position.
Descending trend has been broken and if the chart remains above 4280 before bell, I will enter to new positions. Closing with a up shadow may be a little risky specially on daily time.
Chart has reacted to first support level . I'm waiting for breaking that descending trend line and gradually buying new positions. As a negative point, previous correction was a little steep and you should consider this subject and after getting a sure trigger start buying. Let's see.
It can be a pullback to a broken level at about 4330. Im waiting for another dropping and corrective wave at about 4300 where possibility of ending correction is high.
After the last two candles, I'm not too optimistic on market any more and gradually I closed all positions. Hope I'm in a mistake but the possibility of more correction is high yet. I suppose it is a reaction to a support level and maybe it goes toward 4200 after missing this level. Totally take care these days.