Market can run higher with no pull backs. Ideally, I want to see market move lower run stops at obvious support ( clusters of stops and pending limit orders resting :4905) into the blue box. I will hunt for bullish chart patterns for long setup. Market can move lower find support at 4905 level and move higher. For this scenario, i want to see a rejection ( spends less time and moves higher quickly) switch to lower time frame watch price wait for break in market structure and look for bullish setup to get long.
If price continues to move higher, I will wait for price to break above 6807 level to add another long position. Target :11560 level
Yorum:
6807 level good support. Fast reaction. It confirms to me that some one with large fund is defending this area