Important 8k resistance turned back into support
In the past few days, bulls have fought past the perfect bearish set up and price action looks very positive. The indicator that I use is very focused on the trend median which is the blue line, I always enter on the retests which may be easier to explain on charts.
Now I hear you saying “but it didn’t go to plan?”
But with the indicator I enter bang on the trend median and have a stop loss in profit for the rare occasions it doesn’t stick to the idea. The move back over the blue line is very bullish and here is some past examples of how this current situation has played out.
In my opinion, I believe we’re currently at the yellow arrow.
A retrace to 7950 in my eyes would be absolutely perfect.
(please remember all TA is just an educated guess and all it takes is a fatfinger sell to ruin my theory).
This is not investment advice… Please do your own research.
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