Hey Traders wow just a few week ago I was watching to see if it was going to pullback instead smashes above all time high. Thats how quick these markets can change in the blink of an eye!
Lesson here (Always Expect the Unexpected in the Markets!) 😁
Ok so now we have channel breakout above resistance at 112,100. About 70% of the time market will retest this level before continuing the trend.
This could be a great place to buy on the pullback!
So if your bullish buy around $112,100-113,000 I would recommend a wide stop to give the market room to breath around 106,970.
However if bearish I would not consider selling unless market has complete reversal and has daily close below uptrendline at 106,000 .
Bears Be careful because this Bull looks like it has Horns!
Good Luck & Always use Risk Management!
(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Hope This Helps Your Trading 😃
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