Played out perfectly as we can see price headed to the $22,500 – $22,000 zone. Intraday shorts well delivered too. The reaction at that zone will form the base for any further bias either longs or shorts.


4H support couldn’t hold up as price rejected properly from the weekly resistance zone. It’ll be interesting to see how the trendline support holds up. Intraday shorts can come in before price gets to the trendline support and if it reacts as expected we can have longs to the weekly resistance zone too. You can get nice intraday scalp trades in between the range.


As expected price has come into the $275-$270 zone and it’s trading currently around the region. Although we have seen a rejection from that zone, price may sit deeper into it before the bullish move. I’m expecting the longs soon as price already found support after breaking through a weekly resistance zone.


Price broke through the 4H support and it’s now turned resistance. It’s a good opportunity for intraday scalp shorts into the trendline support as we’ll see how that holds up.


4H support did not hold up as well. But we’re almost at the trendline support. How price reacts at that level will give us a lead on what to expect next. I’ll advise not engaging here until price gets to the trendline support.

Featured image source:

Leave a Reply

Your email address will not be published. Required fields are marked *

Captcha Plus loading...