Price at Lower median line of the schiff PF . High risk long can be initiated with SL below 8470.
Trade active:
Around 70 points from there.. Good to book part profits and keep trailing the remaining
Trade active:
Close to 140 points done since then, time to tighten stops on remaining position.
It is difficult to say as of now as to where the market will turn, but yes we can expect some resistance or perhaps a reversal around the higher median line of the small downward PF or the median line of the horizontal one. Adding a Fib retracement along with the PF sets shows 8738-8760 zone as potential resistance