In my last update, I gave 2 support levels and expected more upside if we got a reaction from them.
We tested the 16.1k support area and got a nice bounce to the upside.
My main target hasn't been reached yet (19.3-19.6k), but I just wanted to update you guys as we just got a nice SFP on a fib pocket that I've been using a lot lately, offering a nice scalp short.
A big level to hold in my opinion if we want more upside is 16,787 because if we lose it it would invalidate my EW count which would get us higher.
If we lose 16,787 and clearly stay below it (to me a quick wick doesn't invalidate the count), I would expect a break of the low at 15.4k
I'm personally still in my long but took a TP2 at that fib pocket (going to let the rest run) and opened a scalp short at that high.
Any questions?
Good luck traders
Remember not to break your rules
Habib
We tested the 16.1k support area and got a nice bounce to the upside.
My main target hasn't been reached yet (19.3-19.6k), but I just wanted to update you guys as we just got a nice SFP on a fib pocket that I've been using a lot lately, offering a nice scalp short.
A big level to hold in my opinion if we want more upside is 16,787 because if we lose it it would invalidate my EW count which would get us higher.
If we lose 16,787 and clearly stay below it (to me a quick wick doesn't invalidate the count), I would expect a break of the low at 15.4k
I'm personally still in my long but took a TP2 at that fib pocket (going to let the rest run) and opened a scalp short at that high.
Any questions?
Good luck traders
Remember not to break your rules
Habib
