In my last update I gave you the range we were trading in (between the daily and weekly), and the potential support we were looking at if we lost the range (fib golden pocket 49-50k for a flip of resistance into support)
We lost the range and tested the low of the fib golden pocket, before getting back in the range, testing the daily at 50.6k twice, moving to the high of the range again where we have put a swing failure pattern of the highs.
Now in my opinion, 50.6k (low of the range) is an important level that, if lost, will look bearish.
Next bigger support is still the support area around the fib golden pocket (white rectangle). If we lose it we have high chances of going back to the lows of this bigger range that we have been in (so at 45-46k)
If we break the range to the upside (break of 52k), like I said in my last update we don't have much resistance until 47-48k
Any questions?
Good luck traders
Remember not to break your rules
Habib
We lost the range and tested the low of the fib golden pocket, before getting back in the range, testing the daily at 50.6k twice, moving to the high of the range again where we have put a swing failure pattern of the highs.
Now in my opinion, 50.6k (low of the range) is an important level that, if lost, will look bearish.
Next bigger support is still the support area around the fib golden pocket (white rectangle). If we lose it we have high chances of going back to the lows of this bigger range that we have been in (so at 45-46k)
If we break the range to the upside (break of 52k), like I said in my last update we don't have much resistance until 47-48k
Any questions?
Good luck traders
Remember not to break your rules
Habib
