Short Term bull target [/check] Now what?
Since Nov 10th bull breakout, we have been in a broad bull channel for almost a month.
It is the end of the year. The market is again at a critical price.
It has broken out of this year's bearish trendline (red line), but got strong rejection from it once because of Friday's nonfarm payroll data.
Since Friday's rejection of lower price was so strong, I am inclined to the possibility that the market will try to go up and test 4100 first before it go down to 3900.
However, I myself will not participate the buying if Monday is gap up.
My buy zone is around 4000-3980. I did not buy on Wednesday, because it was too climatic. But I did get the chance to buy on Friday around 4040, which was more relaxing. I still believe in current market, buy/sell pullbacks is a better strategy for me.
The current market is in a trading range, and although the bulls enjoyed their victory for the past two months, the winter is coming and the price is high now. Always remind myself.
The daily chart is more bullish. And the bulls' next target is 4200. Now there are dueling trendlines (both red lines), I am expecting trading range action in this area. Possible failed BO first, and then the market move to the other direction.
It is the end of the year. The market is again at a critical price.
It has broken out of this year's bearish trendline (red line), but got strong rejection from it once because of Friday's nonfarm payroll data.
Since Friday's rejection of lower price was so strong, I am inclined to the possibility that the market will try to go up and test 4100 first before it go down to 3900.
However, I myself will not participate the buying if Monday is gap up.
My buy zone is around 4000-3980. I did not buy on Wednesday, because it was too climatic. But I did get the chance to buy on Friday around 4040, which was more relaxing. I still believe in current market, buy/sell pullbacks is a better strategy for me.
The current market is in a trading range, and although the bulls enjoyed their victory for the past two months, the winter is coming and the price is high now. Always remind myself.
The daily chart is more bullish. And the bulls' next target is 4200. Now there are dueling trendlines (both red lines), I am expecting trading range action in this area. Possible failed BO first, and then the market move to the other direction.
כתב ויתור
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