Ideas and simple scenarios
Updated
Scenario 1. Break out. Push price above 12300 - 12400 and come back down. Trap retail longs and overleverage breakout traders. Come back down and few candles later break below temporary 10900 11000 support and close 8500ish cme gap.
Scenario 2. Going against market sentiment and going with huge volume take out the 12300 12400 level and parabola continues.
Scenario 3. Breakdown and go 7500 8500 and stay there few days before resuming uptrend a little bit slower ( also happened in 2016)
Scenario 2. Going against market sentiment and going with huge volume take out the 12300 12400 level and parabola continues.
Scenario 3. Breakdown and go 7500 8500 and stay there few days before resuming uptrend a little bit slower ( also happened in 2016)
Comment
Scenario 2 in play. Scenario 1 not invalid until 12850 broken and stayed above in 4hour candleDisclaimer
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