Important Levels for 21/10/2022.
A day where we slowly moved up before the final expiry move which took the prices into the seller reference area and we did see the sellers keenness to defend those levels which can be seen by the volume in the last candle at the top.
For tomorrow, if we open flat we will simply wait and watch if the sellers will take control or the buyers will break through before initiating any trades. For shorts taken the initial targets will be 17477-17489 buyer reference followed by 17440 and 17405. This can be a trade which safe traders can give a miss as it will be a low probability trade.
For longs we can take positions if we see a gap down around 17500 levels or only above 17600.
The targets to look will be 17693-17744, the old seller reference zone.
A day where we slowly moved up before the final expiry move which took the prices into the seller reference area and we did see the sellers keenness to defend those levels which can be seen by the volume in the last candle at the top.
For tomorrow, if we open flat we will simply wait and watch if the sellers will take control or the buyers will break through before initiating any trades. For shorts taken the initial targets will be 17477-17489 buyer reference followed by 17440 and 17405. This can be a trade which safe traders can give a miss as it will be a low probability trade.
For longs we can take positions if we see a gap down around 17500 levels or only above 17600.
The targets to look will be 17693-17744, the old seller reference zone.