An uptrend channel with the price currently in the middle of the channel. Bearish forces lack the strength to suppress the bulls, and pullbacks haven't broken the previous support level. The uptrend continues on the chart. Current trading strategy: short around the previous high, betting on a double top. Stop loss placed at 60 points around the previous high. Tight stop loss. If the double top bet fails, enter short positions at the upper channel boundary (overbought) or at 2198 to catch the top.
An uptrend channel with the price currently in the middle of the channel. Bearish forces lack the strength to suppress the bulls, and pullbacks haven't broken the previous support level. The uptrend continues on the chart. Current trading strategy: short around the previous high, betting on a double top. Stop loss placed at 60 points around the previous high. Tight stop loss. If the double top bet fails, enter short positions at the upper channel boundary (overbought) or at 2198 to catch the top.