Above 3958 and there is an expectation that there would be a move upwards
42-points"
Premium Report
SPI Weekly & 5-day pattern
Today was all about trading on the side of the 5-day 50% level @ 3958.
Because of where sycom closed @ 3940, my expectation was that a test and rejection pattern from 3958 would occur and move down towards 3914.
However once price moved above 3958, there was an expectation of a 42 point move upwards, which completed @ 3997:- today's high.
Once 3997 reached the market reversed back down, but there was still an expectation that 3955-58 would support the market.
Sadly, the support only lasted 18 points and not the desired 41-44 points.
- Daily Trading Set-ups & Analysis
Posts
