It seems price would like to hit the top of the weekly resistance zone which is around 30000. Likely that a long is favorable here. I am in a long trade here targeting 29800.
Trade closed: target reached
So this trade worked in our favor. The price reached the target of 20800 as expected and got pushed around from that zone down. As mentioned, that area 29500-30000 is the weekly resistance zone and is acting as a strong resistance. Now the price is trading below the resistance. We will reevaluate the price action for the next setup in the next post.If you like the content and find value in the posted analysis, please give a like and if you want to get notified about any new idea posted, please follow this account. I also share ideas on twitter, so if you want to tune to that, please check my twitter account: twitter.com/angela_altair
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.