Well last week. my take that price will be heading for 12540/00 level was inexplicably way off the mark (lowest 12988) and not only that, it also breached the bulls threshold@13380. I think there may be a slight m/t shift in the fundamentals.
Anyway in view of this dramatic change in price dynamics, I will definitely be looking at m/t long trade with a initial target@13530 then a new high target@13860 and higher with a ISL@13020.
All mine m/t technical indicators are pointing north except the mom which is still flat at the moment. It will be my main focus next few days.
Going into next week, the likely scenarios are:-
1)PA breach current dynamic bear pivot@13250 level then heads for a retest@13170 then 13050. Below that then m/t price dynamics change again(very low probability next week).
2)Dynamic bears pivot@13250 remains intact(this dynamic levels have been holding since price was@13188), then we will be looking at PA testing the bulls pivot@13530 and if breached will means that we will be seeing 13860 and above.
Bias aside, I will be trading and following all the signposts on my chart and a couple of intraday trades if there is a clear opportunity on the lower t/fs based on s/t topping/basing/rev signals and pip value over pivotal mas coupled with fibo readings.
Current and last prevailing PA is sitting right smack on the s/t bears pivot which if rejected/breached decisively will show me a clear s/t direction. So until that happens, I will be watching on the s/line. Note also that the hourly BB is constricting indicating a rangey/consol mode poised for a significant breakouts/downs. In this case, its more likely to be a breakout if my technical indicators are trade-worthy and thus still remain so.
This is my personal weekly take and trading thoughts which hopefully can synergize any similar/coincidental trade outlooks out there. Just wanting to do my bits with like-minded traders.
Somebody here once posted that a good trader is not about making all the right trade calls but the acquired discipline to adjust constantly to the ever changing price dynamics in the right directions and also on a timely entry/exit/sl levels or points.
Nothing can be further from this wise truth.......whether its scalping, s/m/l/t and whatever trades one may be in..........
GL and happy pippins all....
Anyway in view of this dramatic change in price dynamics, I will definitely be looking at m/t long trade with a initial target@13530 then a new high target@13860 and higher with a ISL@13020.
All mine m/t technical indicators are pointing north except the mom which is still flat at the moment. It will be my main focus next few days.
Going into next week, the likely scenarios are:-
1)PA breach current dynamic bear pivot@13250 level then heads for a retest@13170 then 13050. Below that then m/t price dynamics change again(very low probability next week).
2)Dynamic bears pivot@13250 remains intact(this dynamic levels have been holding since price was@13188), then we will be looking at PA testing the bulls pivot@13530 and if breached will means that we will be seeing 13860 and above.
Bias aside, I will be trading and following all the signposts on my chart and a couple of intraday trades if there is a clear opportunity on the lower t/fs based on s/t topping/basing/rev signals and pip value over pivotal mas coupled with fibo readings.
Current and last prevailing PA is sitting right smack on the s/t bears pivot which if rejected/breached decisively will show me a clear s/t direction. So until that happens, I will be watching on the s/line. Note also that the hourly BB is constricting indicating a rangey/consol mode poised for a significant breakouts/downs. In this case, its more likely to be a breakout if my technical indicators are trade-worthy and thus still remain so.
This is my personal weekly take and trading thoughts which hopefully can synergize any similar/coincidental trade outlooks out there. Just wanting to do my bits with like-minded traders.
Somebody here once posted that a good trader is not about making all the right trade calls but the acquired discipline to adjust constantly to the ever changing price dynamics in the right directions and also on a timely entry/exit/sl levels or points.
Nothing can be further from this wise truth.......whether its scalping, s/m/l/t and whatever trades one may be in..........
GL and happy pippins all....
