Here is an update to my previous idea. I had mistakenly drawn the trendline from the middle of the channel. This chart better represents the channel that we're in. I still believe we head towards ~6900s. Until confirmation of a breakout from this channel I'm still short-term bearish. Volume just simply isn't there despite the RSI still being oversold. Wait for confirmation of a breakout from this channel. In the event of a breakout, first area of resistance will be at ~7800s.
This is not financial advise, it's just an idea. Feel free to share yours. Cheers!
This is not financial advise, it's just an idea. Feel free to share yours. Cheers!
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She's still following the channel. I would consider this a no trade zone. Wait for confirmation of a breakout. If she consolidates enough we could see an attempted breakout of the trend-line however, I would say anything below ~7700 is a bull-trap. Again, we're aiming at ~6900