๐ Morning Market Insights: December 24, 2024 ๐
After a night of coding and strategy building, hereโs where the market stands as of this morning:
โณ Current Situation:
๐น Resistance in Play: The downward slope line continues to apply selling pressure. A sharp breakout isnโt expected yet, but Iโm watching closely.
๐น Key Levels to Watch:
93,500: Must hold above this on the next pullback to confirm a bullish continuation.
92,000: Critical support levelโbreaking below this signals the bearish trend remains.
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๐ The Bigger Picture:
4-Hour Timeframe:
By 8 AM, Iโm watching for a bullish candle to form. Breaking and holding above the downward blue trendline would indicate a shift into a bullish phase. Otherwise, the market remains in a bearish setup.
Daily Timeframe:
Support at the mid-range channel and the 4-hour Fibonacci lower band adds strength to the market.
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๐ Market Dynamics:
The holiday season may ease selling pressure, but the real momentum will depend on how the Asian session traders react.
A strong Asian sentiment could fuel further upward movement into the American session.
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๐ก Pro Tips for Traders:
๐ซ Donโt short impulsively during a bullish candle formation.
โ Wait for proper confirmationsโtrading without a plan is gambling.
๐ Always use stop-losses to safeguard against unexpected volatility.
๐ Reduce exposure in uncertain conditions; itโs about protection, not perfection.
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๐ฏ Remember: This is about smart trading, not gambling. The market rewards patience and discipline. Stay focused, stay informed, and always trade responsibly.
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