Sorry a little edit to previously: Resis is around 4630. 4600 may be a bit early to short. Do protect long profits as we get close to that though.
The most probable outcome when a 76 is broken is the 86 will hit, the market will drop back to the 76 area and sometimes overshoot to the 61 and then there will be a follow through move to a new high. This happens a lot in all timeframes - I can show you a classic example in 2020.
And until the market tells us not, the easiest thing to do is plan for these swings. If these swings work, there’s an excellent short coming (A bit higher). A big bear trap candle. Probably a significant amount of chop time and a bearish narrative building back up - then the sharpest part of the rise to make a new high.
Let’s build our plan for that now and also look at the points in which our plan fails, the moves that would trigger most/worse false signals and how to protect ourselves if a move outside of the expected move comes.
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