There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm.
The resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the uptrend #2 is not broken, wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
( ) is 62.
There is possibility of temporary retracement to suggested Buy Zone (1217.25 to 1204.15). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1217.25)
Ending of entry zone (1204.15)
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
TP1 : @1240.00
TP2 : @1262.50
TP3 : @1287.00
TP4 : @1308.85
TP5 : @1324.15
TP6 : @1366.05
TP7 : Free
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