The ascending triangle played out as expected - another sharp drop to 7800.00 happened. We took full advantage all the way down from 8400.00 with a leverage of 7x. 58% profit - Great trade!
Now it's time to see if our major support zone (located between 7800.00 - 7900.00) is strong enough. I'm expecting the price to bounce from here to 8400.00. The downwards movement will continue from there. A long position would be too risky. Let's see what's next.
leave a thumbs up if you like my idea and let me know what you think! This will keep me motivated :-)
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Komen
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The bulls are very weak. I don't see a retest of 8400.00 anytime soon.