Despite the fact that we could have gained a foothold in the new trading range with the day candlestick, quite active sales followed at the beginning of the Asian session. Obviously, it was time for the Koreans to buy, and this must have been caused by some news topic. I do not base my trade on the news, but fans of newspapers will certainly find it.
Today, it is important for us that the current day candlestick closes above 290 and does not cover with its body and, preferably, its volume the September 27 candlestick.
In the current channel, we see a fairly large margin of strength and despite the large selling H4 candle, there is not much volume in it and after the second decline momentum has been played out, we have all chances for continued growth.
When analyzing the market profile, we see that the buyers missed by a notch to consolidate beyond the boundaries of the current distribution and reach new levels. Now we have made a return to the fair price and if 280 does not stand, then the next significant support will be in the range 260-265.
The growth scenario is still valid, and the three following targets remain relevant: 320-330, 380-400, 500-550.
Good luck in your trading!
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