Good morning! Hope everyone had a good trading week! I increased my trading stack by 11% so I'm pleased!
Let's formulate a gameplan for this upcoming week, shall we?
The price is currently trading at 10420 after dropping 6% and recovered by 2%.
We have a local bottom and top which forms a range of 10200-10600.
The VMA (volatility moving average) is resting below the price action near 10335.
This suggests that the volatility is in bulls' favor.
However, although I don't like trading against it, I do think it might be one of those cases where we'll have whipsaws trading around it, so we'll need to trade the range and be prepared for both outcomes.
If we break 10600, we'll test 10800, possibly 11.2k and 11.6k.
On the downside, we can full further to 10130, possibly 9.6k where the weekly range bottom lies.
Do you enjoy my content? You can support me by leaving a like!
Let's formulate a gameplan for this upcoming week, shall we?
The price is currently trading at 10420 after dropping 6% and recovered by 2%.
We have a local bottom and top which forms a range of 10200-10600.
The VMA (volatility moving average) is resting below the price action near 10335.
This suggests that the volatility is in bulls' favor.
However, although I don't like trading against it, I do think it might be one of those cases where we'll have whipsaws trading around it, so we'll need to trade the range and be prepared for both outcomes.
If we break 10600, we'll test 10800, possibly 11.2k and 11.6k.
On the downside, we can full further to 10130, possibly 9.6k where the weekly range bottom lies.
Do you enjoy my content? You can support me by leaving a like!