trade what you see wednesday, page-85

Evening Caylus, back from work, can only add two charts below with a trade system taken from treggs work ( ok I have changed 1 rule).

I trade via IG but paper trade the china through a FP demo account for practice on the trading system.

On the 5 minute chart 21k looks like your top ( pretty obvious I know ) and a nice Fib number 21 for your resistance. Pretty big gap below in around the 20500 that has twice tried to spike down to close.



I know why you want to short this dragon but personally I would be waiting to the top of the channel was closer, wide stop for the volatility at 22000.

"Short term" resistance at 21k, "longer term view on the daily" at 22k. Just as a side note I still don't have a buy signal yet on the Daily, even though we have rallied 10% on the honkers. It is a slow signal on the daily but we are also looking at a declining channel.



DYOR - this chart is my way only at viewing a live chart.

Thanks Spider