I was scrolling through the charts this morning when one number stopped me cold.
1318.0. It was the high on 10-23,
and it was also the tip of this morning's upper wick.
Not a tick apart. Someone's built a wall at that level.
Last night, during the U.S. session, price kept pushing up until it hit the wall and got slapped back,
then dropped to around the 20-hour line before bouncing.
The close $SNDK stood at 1307.12, flat and unmoving.
77.8% of retail traders are long, and 77.4% of large traders are long.
The whole crowd is leaning one way, but the wall hasn't let the bulls get above it once.
My plan is simple: only a high-volume close above 1318.0 counts as a real break.
If it can't get through, I won't buy the retest of the 20-hour line either—that's catching a falling knife.
I'll sit this one out and wait for it to either knock down the wall or break through the floor.
(Not investment advice. You are responsible for your own gains and losses.)
1318.0. It was the high on 10-23,
and it was also the tip of this morning's upper wick.
Not a tick apart. Someone's built a wall at that level.
Last night, during the U.S. session, price kept pushing up until it hit the wall and got slapped back,
then dropped to around the 20-hour line before bouncing.
The close $SNDK stood at 1307.12, flat and unmoving.
77.8% of retail traders are long, and 77.4% of large traders are long.
The whole crowd is leaning one way, but the wall hasn't let the bulls get above it once.
My plan is simple: only a high-volume close above 1318.0 counts as a real break.
If it can't get through, I won't buy the retest of the 20-hour line either—that's catching a falling knife.
I'll sit this one out and wait for it to either knock down the wall or break through the floor.
(Not investment advice. You are responsible for your own gains and losses.)
