There is a buy on monthly time frame, however weekly remains neutral. On daily chart, since past 3 days price didn't move to take out resistance levels of 1509.10 and 1525.00 in one go. Price rise was sluggish just to take out key resistance level of 1509.10 yesterday.
This scenario has a high probability of being a bull-trap.
Go short below 1509.10 with stop of 1525.
Target 1472 with Reward/Risk ratio 2.25.
This scenario has a high probability of being a bull-trap.
Go short below 1509.10 with stop of 1525.
Target 1472 with Reward/Risk ratio 2.25.
Comment:
Stop of 1525.00 wasnt broken yesterday...we still are good with the above strategy.