Hey traders!

During the overnight, we had a sharp drop lower. The channel broke and prices found support around the 4435 level. From there we stayed within the bigger range. Prices tried to trend higher but failed a couple of times at the 4453 level. The first break higher failed but now prices are doing another push higher and it seems that we will see a break to the top side and a continuation higher now.

In a range, you can trade the shorter-term trend channels but mostly you are good by trading lower highs or triple tests of the range high back inside the range, as long as you get a good signal bar and ideally if there is space back to the EMA.

Hope you had a good trading day!