Huge Move, But Levels Respected
After forming a very large move lower, price sold off directly into the support level.
As the daily chart shows, whilst this was a large move, both the daily support and resistance levels remained intact and respected.
Price has now formed a small inside bar on the daily chart.
For the moment there are no obvious price action trades and the best plays looks to be letting price action show it’s hand a little more before committing to any more trades.
As the daily chart shows, whilst this was a large move, both the daily support and resistance levels remained intact and respected.
Price has now formed a small inside bar on the daily chart.
For the moment there are no obvious price action trades and the best plays looks to be letting price action show it’s hand a little more before committing to any more trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.