By Claus Andersen
8. May 2019
15 min chart:
As I wrote last week context was changing. I think that the range is expanded for now. And as we talked about a couple of weeks ago, 12.000 was likely to get tested again. That is what is happening now. On the larger perspective I think it is likely that the black range on the chart is going to be the trading range for a while. On shorter perspective the blue bear channel needs to play out first. I will be looking for a DB at the 12.000 area and a nice trade up from there. Everything can happen. This blue channel has 300 point drops and 200 point rallies. There are money to be made in both directions.
Support and resistance levels adjusted on this chart.
5 min chart:
I made a cheat sheet for the open setup that I like to trade. If you have any questions about it write me, and we can discuss it.
Have a nice trading week.