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It looks like we've received a slight rejection now, and we are forming an symmetrical triangle.
My bias remains long due to the strong overselling from last week and the current green point on the 4-hour chart. We are also printing a green dot on the daily chart and very close to a green point on the weekly chart.
A breakout of the triangle and the resistance level at 2100 will give us acceptance within the above fair value range. The target will then be the (POC) equilibrium point, followed by the higher value (VAH).
Here's the plan:
- Wait for a breakout and retest of the triangle
- Enter on the breakout then add more on confirmed retest
- Add more on a breakout of 2100 and confirmed acceptance of the new fair value range
- Take profit at the (POC) equilibrium point, then the higher value (VAH)
I have set alerts on the triangle trendline and the 2100 level.
Good luck!
not financial advice
Looks like we got a little rejection now and now we're forming a symmetric triangle.
My bias is still long due to the severe oversold from previous week and the current 4hr green dot. We are also printing a green dot on the Daily and very close to a Weekly green dot.
A break of the triangle and 2100 resistance will give us acceptance to the fair value range above. The target will then be the POC then VAH.
Here's the plan:
- wait for a break and retest of the triangle
- enter on break of triangle then add more on confirmed retest
- add more on break of 2100 and confirmed acceptance of new fair value range
- take profit at POC then VAH
I've set alerts on the triangle trendline and 2100 level.
Good luck!
not financial advice