Trading volume weak, market retest the support level. It looks like 167 get a temporary support. It is golden cross already. The market looks promise, maybe will have the following 2 scenario development:
Scenario 1: market need another leg for breakthrough the upper resistance. In the short run, 200 days EMA still play a key resistance. Resistance level might be:
1. 174
2. 177
3. 180-182 (Key Resistance)
Support might be
1. 167
2. 160
3. 157 (EMA Golden Cross)
4. 147 (SMA Golden Cross)
5. 134
Because trading volume weak, maybe it will follow the Red channel to test golden cross.
After confirm Golden Cross provide enough support, it might breakthrough the above key resistance.
Scenario 2: Steady, but slowly up to breakthrough the above key resistance, while it breakthrough the trading volume will be enlarged.
Let's see market development will be Scenario 1 or Scenario 2?
Scenario 1: market need another leg for breakthrough the upper resistance. In the short run, 200 days EMA still play a key resistance. Resistance level might be:
1. 174
2. 177
3. 180-182 (Key Resistance)
Support might be
1. 167
2. 160
3. 157 (EMA Golden Cross)
4. 147 (SMA Golden Cross)
5. 134
Because trading volume weak, maybe it will follow the Red channel to test golden cross.
After confirm Golden Cross provide enough support, it might breakthrough the above key resistance.
Scenario 2: Steady, but slowly up to breakthrough the above key resistance, while it breakthrough the trading volume will be enlarged.
Let's see market development will be Scenario 1 or Scenario 2?
Comentarios:
Our bias is Scenario 2 might be more opportunity to be developed.
Comentarios:
Day Trade Long
Comentarios:
We hit and run away for quick market backtest.
Green Box: Long-Hit.
Red Box: Stop-Out-run away.
Blue Box: Take Profit-run away.
Let's check if the 160 level could not be hold, then backtest golden-cross is a possible development.
Green Box: Long-Hit.
Red Box: Stop-Out-run away.
Blue Box: Take Profit-run away.
Let's check if the 160 level could not be hold, then backtest golden-cross is a possible development.
Comentarios:
Comentarios:
Wrong Image Link
