Downloading...
Download

Volme

CME Bear Flag|Open Gap|Volume Climax| Oversold Bounce Evening Traders, Today’s TA will be based on an oversold bounce play being imminent due to the immense selling over the weekend that has left the CME Futures with a 10% Gap. Points to consider, - CME bear flag confirmed - Local support at .618 Fibonacci - Huge open Gap (Technical Gap at $7690 open) - RSI and stochastics overextended - Volume node climax evident The CME Futures gaps aren’t to be taken lightly as historically it has proven to be significant with consecutive fills. The bear flag has been confirmed with a Gap open due to spot market trading over the weekend. Local support is found at the .618 Fibonacci, a break below this support will increase the probability of filling an open technical gap situated at around $7690.00 – fulfilling the gap prophecy once again. The RSI and stochastics are over extended; sellers have been in full control with no convincing bounce cooling off oscillators. Volume climax is evident; this is the first sign of potential seller exhaustion after heavy selling. Overall in my opinion, Gaps historically tend to fill sooner rather than later. Oscillators have been over extended due to immense selling – increasing the probability of an oversold bounce. We have entered bear territory as of now. What are your thoughts? Please leave a like and comment, And remember, “Once you find the system that works for your style/personality and confidence is gained, wash, rinse, repeat over and over again.” – Sunrisetrader
CME:BTC1!Long
by The_Alchemist_Trader_
4