eventually ,Price has taken out the strong daily and weekly supply area (8100-8499) by the daily Continuation demand pattern (CP) 7882- 7436 which u can spot on my chart.as this level took out the Daily strong supply level,Supply and Demand Rules allows to put buy trade from this CP demand area.
most importantly price has certainly consolidated as it neared the weekly Supply area which will put a strong resistance and allows to counter trade. In this context its is way risky to buy at all. how ever i am gonna add the small lot as the rules permits.
However if the price breaks below the Daily Cp demand Level, theres a strong Cp pattern on weekly chart (5515- 4815) which gives the strong conviction to put buy limit order as our strategy.
most importantly price has certainly consolidated as it neared the weekly Supply area which will put a strong resistance and allows to counter trade. In this context its is way risky to buy at all. how ever i am gonna add the small lot as the rules permits.
However if the price breaks below the Daily Cp demand Level, theres a strong Cp pattern on weekly chart (5515- 4815) which gives the strong conviction to put buy limit order as our strategy.