Good evening all,
Last week:
We saw a huge down turn from the supply zone at the top to retrace up to our marked level of 38450 and then settle at 39115. In doing so, it also breached the multi day support trend line showing sign of weakness. Now we need to convert this into our strength.
This week:
So from here, we wait for support zone at 37700 to broken if we are to see a further low. The targets from there, 37000 - 36875 and then 36320. We do this with a SL of 38375. On the long side, the entry is only beyond 41850 up to 42200. Not very promising scenario though. Even the SL there does not offer a good RR.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Last week:
We saw a huge down turn from the supply zone at the top to retrace up to our marked level of 38450 and then settle at 39115. In doing so, it also breached the multi day support trend line showing sign of weakness. Now we need to convert this into our strength.
This week:
So from here, we wait for support zone at 37700 to broken if we are to see a further low. The targets from there, 37000 - 36875 and then 36320. We do this with a SL of 38375. On the long side, the entry is only beyond 41850 up to 42200. Not very promising scenario though. Even the SL there does not offer a good RR.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
