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We tested but traded away from the gap. I am bullish at the moment. But the AWN high is currently resistance.
The last chart is a globex daily. You can see that we traded beneath the measured move (black line), from the Feb-May TR. It also became the 10% correction. We traded beneath but did not close beneath it. We have now rallied away from it. As along as we trade away from the gaps and the MM we should be bullish.
We have been down for a bit so now there are new levels of resistance above that we will have to get through. It won't be easy but I am generally bullish at the moment.
@ tturner86...looks like we maintained Bullish Trend so far today....the 3791 Support did hold, and we actually Bounced from that Area with Divergence Set up, which was good for Entry.
we just Broke through 3852.00......Looks like Next Resistance 3885.75...
Looks like the "Island Reversal" was Correct Analysis.
Good solid buying pressure on the hourly. Note how each hour's bar opens and closes outside of the previous bar. 3829 AWN High has been broken and held as support. 3885.75 is PW-High, 3926.25 is AWR High. If we continue the strong buying pressure this would be my first target.
Double bottom / Island Reversal is still in play. 10-17 was a doji day, but we got solid continuation today and closed on our high tick. Very strong bull pressure at the moment. We broke AMR low of 3857.75. Next resistance above is back to the AMN low of 3989.75. I would like to see that tested before the end of the month. Tomorrow I will be looking if we trade back into today's candle that we are above VAH or VPOC. A test of those levels with good buying will be more bullish for me. Trading below today's open is no good, I would like to see us hold support and stay away from the gap.
10-15/16/17-2014 candles are a wolverine bottom signal. (Bear doji bull with long wicks). This is a buy signal and is on solid support of the 3742 MM. This area was tested multiple times and we have rallied from it.
3912 is 20 DMA, 3934 is 100 DMA, and 4006 is 50 DMA. All targets above in this move. Could become resistance, but would like them to turn to support if traded through.
Large gap up this morning. I was on the wrong side trying to close the gap. Trade management is the only reason I got out with a profit. Everything is still looking bullish, but we are starting to reach some levels of resistance. Will have to see what happens next.