Scenario 2. Pushes down from 5620 and into 5578, but then just keeps on going down into another R44 lows around 5536, with the potential of further weakness in the 2nd half of the day..Therefore levels of interests are:- minor resistance around 5620
Important support level of 5578..... and Risk trading.
Note: Can't disregard 5578 pushing down with the expectation that US markets are going to move down....(morning Report)
15:20
And that's pretty much how the day played out....there could be some short covering late in the day but I'm not interested in looking for bottoms today:-
All I was interested in was trading down from 5620 into 5578.... going long, and switching the support into resistance with the expectation of this down move into 5536.....
Next trade tomorrow......
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