Opportunity to short with good risk reward ratio.
Play safe.
Play safe.
Nota
Trade is Active.There will be large resistance at the upper edge of the wedge.
Nota
Look at that strong selling pressure. we broke out of the range easily.This is triggered by the 10 year treasury rate increasing. But it really does not matter why it's happening and nobody truly knows.
Charts speak for themselves
Nota
That was a good meltdown today, great bull-trap during that run up to 3900s.Here is what I am looking for next. We are not out of the woods because there is a strong trendline support nearby. I am expecting the price to bounce of this trendline, however if we break it and consolidate below the trendline we are off to the races.
Nota
Let's have a closer look at what happened today.There was a bounce right off the trend line as we expected and this happened multiple times looking at the hourly chart below.
You see all the bulls buying at this point because they think the trend will continue. Furthermore, they know that if the trend line breaks, the bulls will win and many will be looking to close their Long positions, therefore creating more downward pressure.
This is a very important line of defense for the bulls. Will they defend it or will the bears win this time around.
Nota
It looks like the failed flag scenario is what came to be.The price fell below the flag structure and tested again but rejected as we are wanting to see.
Look to see the price test the bottom of the long term trend line. There will be buyers waiting, let's see if the bulls can defend or this time the bears will break through.
Nota
Trade closed - stop is reached. We are going to 4200sPenafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.