From April this year at these prices below we have had....
9 points of contact at 500, 12 points of contact at 504 and 23 points of contact at 513
Meaning [IMO] the more points of contact the more respect the market gives these levels.
Like a moth to a flame you are right the 500 area is the attraction point! Though I have the target possibly a bit higher at 504~513 on a daily close basis. But I don’t know how to trade it because I have a 15 period EMA that is acting like resistance to the upside. I’d like to see that breached to take a long position.
9 points of contact at 500, 12 points of contact at 504 and 23 points of contact at 513
Meaning [IMO] the more points of contact the more respect the market gives these levels.
Like a moth to a flame you are right the 500 area is the attraction point! Though I have the target possibly a bit higher at 504~513 on a daily close basis. But I don’t know how to trade it because I have a 15 period EMA that is acting like resistance to the upside. I’d like to see that breached to take a long position.