By Claus Andersen
17. April 2019
Price has changed from bear to range to bull trend. Now price is in a bull channel. The context on this 15 min chart is trending trading range. 80% of the chart is in a range. And then there is a BO. If You hit the BO then there is a lot of money to be made. But if you expect every entry to be the BO, then you end up losing. Trade the range, then you end up with greater probability and more winners.
I expect the trend to end before long and test 12.000 from above. I think 65% that price will pull back. Will it reverse? I don’t know, but a larger pullback is likely. Greater targets are 12.600 to the upside and 11.850 to the downside.
New support and resistance levels. Last time price was at this level was in September of 2018. So will the resistance levels still hold? I think so.
Have a nice trading week.