Important Levels for 22/08/2022.
One day of brutal selling and we engulf 3 days in one move. The big sellers are now concentrated in the reference zone of 39460-39670 and likely to sell again when the price reaches here again making it a great place to go short again.
The nearest resistance area is between 38990 and 39210 and advised not to take any position as long as the price stays in this zone.
Fresh shorts with 50% position size can be taken with a candle close below 38825 with SL of 60-80 points and rest quantity be added when the price breaks 38680 for targets of 38400,38250 and 38120.
A big gap down open and we can expect to see the previous buyer zone 38250-38400 to act as support.
One day of brutal selling and we engulf 3 days in one move. The big sellers are now concentrated in the reference zone of 39460-39670 and likely to sell again when the price reaches here again making it a great place to go short again.
The nearest resistance area is between 38990 and 39210 and advised not to take any position as long as the price stays in this zone.
Fresh shorts with 50% position size can be taken with a candle close below 38825 with SL of 60-80 points and rest quantity be added when the price breaks 38680 for targets of 38400,38250 and 38120.
A big gap down open and we can expect to see the previous buyer zone 38250-38400 to act as support.