Yesterday’s price action gave us a clean 200 pip run from the break and retest of 3308, and today we’ve already caught 140 pips using yesterday’s high (3317.17) as intraday support.
But now we’re sitting at a critical inflection point.
📍 Key levels:
Safe Buys: Only looking to buy above Tuesday’s high of 3345.74, which gives room for a clean 200-pip move up toward last Thursday’s high.
Bearish Scenario: If we fail to break that high and instead break yesterday’s high of 3316.65, we may see a sharp 340 pip drop back down to 3282.83.
⚠️ Caution: The 4H bearish trendline from mid-June is still intact, and we're currently testing it. Wait for clear confirmation either way. Higher timeframes remain bullish, so we’re playing both scenarios carefully.
But now we’re sitting at a critical inflection point.
📍 Key levels:
Safe Buys: Only looking to buy above Tuesday’s high of 3345.74, which gives room for a clean 200-pip move up toward last Thursday’s high.
Bearish Scenario: If we fail to break that high and instead break yesterday’s high of 3316.65, we may see a sharp 340 pip drop back down to 3282.83.
⚠️ Caution: The 4H bearish trendline from mid-June is still intact, and we're currently testing it. Wait for clear confirmation either way. Higher timeframes remain bullish, so we’re playing both scenarios carefully.
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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.