The market gives us the local swing high which can be used for placing pending orders for buy. If the price breaks 12000.00 resistance level, SMA100 and moves above this high, it will be a signal confirming trend reversal and further upward movement. Buy orders can be placed at 12300.00 level with stop orders at 10200.00 level. Profit targets are 14000.00 and 17000.00 resistance levels.
so the stop loss is at 17% loss for target gain of 14%?
Manifested
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Buyers exhausted, we still have more to fall.
compexdigits
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@Manifested, at this point the long term chart seems to show just as many sellers in the past month then there were buyers the month before. Do you think maybe the sellers are getting tired too and the buyers are just waiting?
Manifested
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@compexdigits, Buyers are surely waiting, but the question is until what price point?
This would be a long awaited change in the Market, just cannot seem to push that resistance level and hold it. Maybe today that will change. Thank you for your Analysis.
WilliamFiltzpatrick
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I really like your style of market signal searching and how cool and always with strictly set boarders you place potentional trades... This is how I expect experienced trader/analyst behave even during crucial times... I saw couple, let say, "hate posts", so Im thinking about the obligatory formula you should add to your published signals for the less talented or inteligent ones... :D Well known formula: "this is not a trading advice, do your own reaserch... It is your money you gonna trade with, so take the responsibility and handle it..." :) :) :) Keep your work up pls... :) Thanks for it... :)