Dixon - Cloud Breakdown and retest done

27 בדצמ׳ 2024

On houry TF, the price broke down from the cloud and in today's (27th Dec) first hour upmove, price hit the cloud top and seen strong supply/rejection from there. It hasnt given the short signal yet, but on watchlist.

On daily, looks like the last leg of rise is a throwover move on the upside. Waiting for the price to come inside the wedge for confirmation

9 בינו׳

עסקה פעילה

Short signal activated in style by breaking 17500



Ideal target for the short term is the confluence zone at 15800 (Breakout Retest - one may call it)/ GAP Filling etc.,

We could possibly head a bit lower towards the raising trendline too.

Please note, a pullback to 17500-17700 cant be ruled out..

Watchout for the price action at 50DEMA (now at 16500-600 levels)



Price has been taking support at 50DEMA and moved higher.. Lets see how it reacts this time.

on weekly TF, I feel that 3rd wave has ended and price should be testing the lows at 12500 to 11K in the coming weeks. But it is for another post.