Dislikednah cableboy, gonna trade the gap tonight by looking 1st if there is a gap, and 2nd which direction it is... If it is down, Like I think it might be it'll be a great opportunity to buy with support just below me at 5300 but if it is up, I'm not sure...
Will see in 6 hours...Ignored
I agree following the trend is the way to success. And a pull back to around 310 - 300 res or a test of certain m/a's depending on time frame is a solid idea to enter a long.
bro I know bias is towards the upside at the mo but I am not completely convinced. I will be trading p/a as trading price action and pushing mere speculation to the side has helped me rake in the pips. And at the end of the day live prices tell the truth. But I am gonna go out on a limb and say I feel she's gonna go down. The symmetry of the first upward leg to that of this upward leg is telling a story especially now that price has stalled.
1. She has stalled almost exactly at the level marked on my chart which to me shows a major res still in play.
2. she’s formed a red hangining man, spinning top then a doji indicating indescion and some counter attacking by the bears. Added significance as they are right at the res.
3. Longer time frames are still in a bear trend. Now that the market has validated the 2 weekly pins with its current up move, she’s ready to come back down or at least try to come back down. To test namely the 50 ma on the 4 hr which acted as good previous support.
I showed the res on an 8 hr chart so it can be clearer and the candles I mentioned on a 4 hour chart.
however the daily rsi is up and daily shows a strong bull candle holding on Friday.
As i said speculation is somewhat pointless but its just a view.