The buyers were active right off the opening and pushed to a new all time high. One can see how the geometry and the structure shown on the chart represent the price action well. An exhausted move to 8300 found some profit takers who managed to push back below the previous ATH. Watching that action I was thinking that it looks like there were no new buyers who decided to buy at high prices. Perhaps the move up was orchestrated to attract the buyers chasing the price and when the volume did not pick up they sold it back. Just a wild thought.
From price action perspective a pull back to the channel bottom should attract buyers for a push back to the channel top. The sentiment would change if the channel gets broken downside decisively.
Active traders can participate in the price action regardless of the direction as long as they understand the inflection points of the structure.
The momentum is not supporting the upside continuation, however, there is no sell signal either.
11/12/2019
From price action perspective a pull back to the channel bottom should attract buyers for a push back to the channel top. The sentiment would change if the channel gets broken downside decisively.
Active traders can participate in the price action regardless of the direction as long as they understand the inflection points of the structure.
The momentum is not supporting the upside continuation, however, there is no sell signal either.
11/12/2019
