What we can do is ensure that we are set up to jump in and out of the markets as and when the volatility that is dominating the session comes back into force. For anybody looking for a way to hedge the dip that is causing long-term holding value declines, a short entry on a break is as good a method as any.
So, let’s get some levels in place and push forward into the US afternoon session. As ever, take a quick look at the chart below before we get started source to get an idea of what is on where things stand right now. It is a one-minute candlestick chart and it has our range of overlaid in red.
As the chart shows, the range we are looking at this evening is defined by support to the downside at 3806 and resistance to the upside at 3869. We are going to stick with our breakout strategy for now, so we will look for a close above resistance to get us in long towards a target of 3900. Conversely, a close below support will have us in short towards a downside target 3760.
Charts courtesy of Trading View
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.