Candle Stick patterns plays an pivotal part in Technical Analysis yet it is often overlooked.
As I mentioned yesterday 7.5k will be an extremely important psychological zone. The Bears were unable to break & close 7.5k. The two hammer shaped candles on the 4hour chart tells me we are in for a market reversal and Ive opened a long on 7.6k basically making a bet and following my intuition that we can break the all import 7.7k if broken it should rally to around 8k where we would have to stop and re-examine.
If we dont break & close 7.7k today prepare yourself for a possible weekend of trading between the 7.7k and 7.5k channel
As I mentioned yesterday 7.5k will be an extremely important psychological zone. The Bears were unable to break & close 7.5k. The two hammer shaped candles on the 4hour chart tells me we are in for a market reversal and Ive opened a long on 7.6k basically making a bet and following my intuition that we can break the all import 7.7k if broken it should rally to around 8k where we would have to stop and re-examine.
If we dont break & close 7.7k today prepare yourself for a possible weekend of trading between the 7.7k and 7.5k channel