- VERY simple set up here we are analyzing the simple impulse and correction.
- We need to spot the top here soon to define the next lower high and in order to do that
---> we look at the next resistance which is at 393.19 we need to see a rejection or a break from here if we reject its a possibility that this is it, if we break then we are heading towards 400 which is the next gap fill which chances are higher for
- so we have 3-4 scenarios depending on how it moves so be ready and analyze the rejection/break and also take at gap fill levels for a potential long play
- We need to spot the top here soon to define the next lower high and in order to do that
---> we look at the next resistance which is at 393.19 we need to see a rejection or a break from here if we reject its a possibility that this is it, if we break then we are heading towards 400 which is the next gap fill which chances are higher for
- so we have 3-4 scenarios depending on how it moves so be ready and analyze the rejection/break and also take at gap fill levels for a potential long play
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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.