Today is 2nd Dec 2021 and fcpo-Feb22 is still the active third month. After bouncing on and off within the range till 19th Nov 21, the price has descended gradually by showing lower and lower highs. The new low was at 4636 yesterday and this was a lower-low than the previous one (4709). So, we have a continuation of downtrend.
As for the pattern in the precious episode, it missed the entry 5070 by juz 1 point, rollover frm 5069 and fell all the way to form lower-highs and lower-lows. It hits 1st tp at 4850 multiple times and 2nd tp at 4755 on 29th nov 2021. Next supports are at 4560-4480. Now, the price is hanging loosely ranging frm 4660-4680, slightly lower than the formation of leg A at 4708. Next to watch are 4755, and 4850.
*plan your trade and trade your plan… gud luck*
resistance : 4755, 4850
support : 4560, 4480
RISK DISCLAIMER : this is juz a trading idea…trading stocks, , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
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