Once again our chart idea is playing out, as analysed.
After hitting our first Bullish target, we stated yesterday that we had the lock above 2905 opening 2934. This gave a nice push up of over 200 pips but the gap remained open and still valid.
- This was hit today completing this target. Our next range is now open above at 2959 but as we enter into the ATH range, we need to take caution. We are seeing EMA5 break back into 2934 also opening 2905. Range is now big but structure is still very much Bullish and therefore we will continue with our plans to buy dips.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET 2905 - DONE
EMA5 CROSS AND LOCK ABOVE 2905 WILL OPEN THE FOLLOWING BULLISH TARGET 2934 - DONE
EMA5 CROSS AND LOCK ABOVE 2934 WILL OPEN THE FOLLOWING BULLISH TARGET 2959
EMA5 CROSS AND LOCK ABOVE 2959 WILL OPEN THE FOLLOWING BULLISH TARGET 2987
BEARISH TARGETS 2872
EMA5 CROSS AND LOCK BELOW 2871 WILL OPEN THE FOLLOWING BEARISH TARGET 2841
EMA5 CROSS AND LOCK BELOW 2841 WILL OPEN THE SWING RANGE
SWING RANGE 2807 - 2781
EMA5 CROSS AND LOCK BELOW 2781 WILL OPEN THE SECONDARY SWING RANGE
SECONDARY SWING RANGE 2764 - 2740
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!