1) Testing out my hypothesis of three touches before a breakout. The difference this time however is that there has not been a fast move to breakout, it has just gone sideways into the trend line.
2) It has already touched the support level in the 3000 vicinity and bounced
3) Yesterday's drop filled the CME gap
4) Declining volume - Big moving likely soon
This may drag on to the end of the month/start of next month when various instruments expire.
Breach of 3000 support point down to mid 1000s.
Going to play this safe - small position size with wide stop below 3000 support.
2) It has already touched the support level in the 3000 vicinity and bounced
3) Yesterday's drop filled the CME gap
4) Declining volume - Big moving likely soon
This may drag on to the end of the month/start of next month when various instruments expire.
Breach of 3000 support point down to mid 1000s.
Going to play this safe - small position size with wide stop below 3000 support.
