200mA seems to have worked well in the past year for this chart. Every touch of 200mA seems to follow up with a 200-300 points rebound.
Therefore can this touch of 200MA serve to provide the bounce that may form the right shoulder ( pending price action)? After all , there is a 3 months low which formed as support. Unless price crashes below this level, have to assume that price is now at a confluence support.
But still, no setup to long , yet.
A bullish day close bounce from the 200MA. Looking for a retracement to get CTT long
a 3 day bear trap has been completed @ the key zone.
Positions have been entered for a ctt long setup