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After a long night of coding, I turned my attention to the market this morning. While the charts haven't changed significantly since midnight, the situation remains intriguing. Resistance from the downward slope line continues to hold, and selling pressure is noticeable. But here’s the thing: this isn’t about a quick breakout—it’s about the bigger picture.
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Current Focus: Key Levels & Price Action
⏱ Timeframe to Watch:
At 7:10 AM, I’m anticipating a bullish candle formation by the 8 AM close. A convincing rise will shift my focus to the pullback zone above 93,500.
🔹 Scenarios to Watch:
1. Above 93,500: A pullback holding this level signals a potential bullish reversal.
2. Below 93,500: The downtrend remains intact, likely signaling a temporary bounce.
3. Key Support: Keep an eye on 92,000, the critical level that must hold to avoid further declines.
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Daily & 4-Hour Timeframes
Daily Support: Strong at the mid-range channel.
4-Hour Chart: Fibonacci lower band provides decent strength.
Bullish Breakout Setup: A clean break above the downward blue trendline, followed by a successful retest, could signal a new bullish phase.
Bearish Confirmation: A close back below the trendline means the bearish structure remains dominant.
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Holiday Impact & Market Sentiment
With the holiday season in full swing, selling pressure could ease today compared to yesterday. Watch how the Asian session unfolds—positive sentiment here could ripple into the American markets, pushing prices higher later in the day.
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Trading Tips for Today
🔑 Avoid Common Pitfalls:
Don’t short while a bullish candle is forming—wait for proper confirmation.
Use stop-losses to manage risk effectively.
Reduce exposure in uncertain conditions—uncertainty is your signal to tread carefully.
🔹 Key Takeaway:
Focus on closing prices, not just intraday moves. Markets are unpredictable, but disciplined trading will always give you an edge.
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🎯 My Goal:
I’m not here to predict perfection; I’m here to help you trade smarter. Stick to your rules, protect your capital, and let the market work for you.
