Context:
price rallied after the sellof right back to the 50% mark of 12700 where it got rejected and now price is contained
within a small 20 pip range , so one should wait for a breakout eitherside , , key levels here are 12700
and the 50% mark from the recent rally 11150
Trading Opportunities:
Long:
Breakout of the resistance level at 12000 + pullback
Short:
Breakdown of support level at 11800 + pullback
Signs of strength:
strong rally
Signs Of weakness:
rejection of 50% mark
Support:
11800
11150
Resistance:
12000
12700
www.invezted.com
price rallied after the sellof right back to the 50% mark of 12700 where it got rejected and now price is contained
within a small 20 pip range , so one should wait for a breakout eitherside , , key levels here are 12700
and the 50% mark from the recent rally 11150
Trading Opportunities:
Long:
Breakout of the resistance level at 12000 + pullback
Short:
Breakdown of support level at 11800 + pullback
Signs of strength:
strong rally
Signs Of weakness:
rejection of 50% mark
Support:
11800
11150
Resistance:
12000
12700
www.invezted.com