Price has been in strong uptrend and recently it has made a flag BO with good volume and has tested the previous high made.
Entry above 735 based on a strong bull signal will take us to a small target of 760 in short term. SL 706.
Even if it gives a fakeout and turns back, entries by bull will be made at 710 - 715 area.
Although profit taking can take place at the mentioned level since its a new high, leaving a chance for the bears to enter.
So its more of like a continuation or reversal zone.
Trade based on the signal bar that is about to form further.
Just my observation and purely for study purpose.
Thanks.
Entry above 735 based on a strong bull signal will take us to a small target of 760 in short term. SL 706.
Even if it gives a fakeout and turns back, entries by bull will be made at 710 - 715 area.
Although profit taking can take place at the mentioned level since its a new high, leaving a chance for the bears to enter.
So its more of like a continuation or reversal zone.
Trade based on the signal bar that is about to form further.
Just my observation and purely for study purpose.
Thanks.
Comment:
Trade active during morning session. Entered @ 740
Comment:
That was a good impulsive 20 point move. Target 760 done.
Trade closed.
Thanks
Trade closed.
Thanks
Comment:
Wow. It has made a high of 820. Exited early at 760.