Weekly View 29 Apr - 03 May

Let's keep our focus on four levels this week. 35674, 33837, 37511 and 31283. These are 50.0%, 61.8%, 38.2 % and 78.2% Fibonacci levels from 27889 to 43459 respectively. Let's keep it simple because while trading simple is good. Let me put a quote here by Sean "If you have to think more than 5 seconds about how your trade is going to work, then it is too complicated. Simple is sexy".  So, now, if 35674 is broken then 37511 may be tested, if 33837 could not hold then 31283 may be seen and if neither 35674 nor 33837 is broken then the price is in between these channel.

Relate this view with market movement and psychology and look for profitable opportunity to open position using smaller timeframe chart (M15,H1 or H4) whichever suits you.

Happy Trading. Trade Safe.

:)