There is weekly inside bar sitting just below 8000 + 7x inside bars on a daily chart+ volume is declining!
If we were about to break that 8000 we would have to see some huge volume with bullish price action. Well it is not there. If they fake 8000 level out we could see Triple Top Pattern. It could very easily produce a daily bearish fakey from that level. So watch out guys if you are thinking about trading break outs here.
Longs would be considered once we break 8000 with a huge bullish bar + huge volume then AT LEAST we know smart money is back to game to ride it higher.
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Good luck Traders!
If we were about to break that 8000 we would have to see some huge volume with bullish price action. Well it is not there. If they fake 8000 level out we could see Triple Top Pattern. It could very easily produce a daily bearish fakey from that level. So watch out guys if you are thinking about trading break outs here.
Longs would be considered once we break 8000 with a huge bullish bar + huge volume then AT LEAST we know smart money is back to game to ride it higher.
If you find this idea as informative please like & subscribe.
Good luck Traders!
Commento:
8200 has been taken with a nice big bar but spread is not too high let's see how they close tonight
Commento:
typo ! I meant the volume is not too high:)
