By Claus Andersen
12. March 2019
15 min chart:
Week 9 was a bear week. Market opened near the high of the week and closed near the low. In at trend week like that, one could expect that bear trades would yield great runners. They didn’t! All of the blue boxes are bear trades on pullbacks in bear direction. And all of the BE stops got hit by bull spikes. That forces bear to re-enter and makes price spike down again. But you had to get short after strong bull move to get good bear runners. That is hard to do. In this context be happy that you take scalps, and don’t expect runners to get to far.
New support and resistance levels for next week 11 trading.
There is a larger trading range in play. I will be looking to see, how price reacts at high and low, also at the midline. The range is big enough that money can be made in the swings within the range.
Have a nice trading week.