As illustrated, I try to visualize what the next bullish impulse could look like if price holds 3300 as a key psychological and algorithmic price level.
Illustrated are the potential buy areas (a current one and an extended one in case a pullback occurs to manipulate lower levels in the next 24-48 hours).
This projection, if valid, could hold from now until next week, so it can be considered a swing trade to hold at least the next week and into the following one).
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After this post, I will upload another analysis on the Daily timeframe projecting the longer term move, so make sure to go in my profile to check it out.
GOOD LUCK
Illustrated are the potential buy areas (a current one and an extended one in case a pullback occurs to manipulate lower levels in the next 24-48 hours).
This projection, if valid, could hold from now until next week, so it can be considered a swing trade to hold at least the next week and into the following one).
--
After this post, I will upload another analysis on the Daily timeframe projecting the longer term move, so make sure to go in my profile to check it out.
GOOD LUCK
Trade active
Strong bounce just shy from 3320, within buy area. Initial signs of confirmation to the upside. I am in this trade with long positions.
Note
Added long positions at 3311.35Will add more if it continues dropping.
My last range to buy is 3275 - 3290.
My personal stop loss is at 3273.00
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For intraday, these levels might not be pretty; shorting is definitely convenient on the short term with this much pressure to the downside; however, I remain bullish on the long run.
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3275 is where I would be alarmed.
Note
Targets for this trade:Short term target: 3425/3430
Intraday target: 3480/3685
Swing target: 3640/3645
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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.
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.