I do not make predictions beyond the stars, I do not draw arrows indicating that the price will reach the sky, because this is not about being right.
I only work with the information of the now, and I have the humility to accept that I am always one step behind the price and also wrong.
But here I have a situation and is that based in the price action, without falling into arrogant predictions I can notice the intention that has the price to break the resistance line close to 17.00 area. but why a I make this affirmation:
If I look the past resistance level in the 10.00 area this was broken with an considerable intraday gap followed by a bullish day this happened in 09/11/2017
this is called a runaway gap, then a few months later at the beginning of January the price broke a trend resistance line and now the price is confronting a key resistance line (17.00)
Another thing I do not use a rule based or mechanical system but I use moving averages and I interpret they at my way (Discretionary) and they are giving me a bullish signal.
Note:
If in the future the price breaks this resistance level, this does not mean I right.
I only work with the information of the now, and I have the humility to accept that I am always one step behind the price and also wrong.
But here I have a situation and is that based in the price action, without falling into arrogant predictions I can notice the intention that has the price to break the resistance line close to 17.00 area. but why a I make this affirmation:
If I look the past resistance level in the 10.00 area this was broken with an considerable intraday gap followed by a bullish day this happened in 09/11/2017
this is called a runaway gap, then a few months later at the beginning of January the price broke a trend resistance line and now the price is confronting a key resistance line (17.00)
Another thing I do not use a rule based or mechanical system but I use moving averages and I interpret they at my way (Discretionary) and they are giving me a bullish signal.
Note:
If in the future the price breaks this resistance level, this does not mean I right.