2025-06-04 up or down? double top or cup and handle?

I don't believe in those things, but I respect them :D :D

Author

n qracky
June 04, 2025 • Estimated Reading Time: 3 minutes

🔢 The Numbers

Above

getting adn staying 21750 to get the party started. Then, they need to work themselves into the zone, starting at 21775.50, then 21792. They could give at least a good scalp here, so watch that number. if they can beat it, its’ on to 21801, another heavier resistance area. beat 21810, and they’re looking for the May value area high at 21857.25, at least.

Below

if they beat 21750 then fail, it’s not good news for bulls…it’s time to revisit 21705.25, but have to get through 21720.75 first. Closing 5, 10s, 15s, below signals they’re going to get that, and more, perhaps 21662. 21561 (and below) would not be off the table.

📸 The Big Picture

The moves have been relatively small, percentage wise day by day (i’ve noticed rarely over 1% gains daily), but that has compounded well to the upside.

Looking at the last few days, squinting, as a pattern trader, it looks either bullish (cup and handle) or bearish (double top)

zooming out, it looks like a potential lower low situation, coupled with a double top. what do we believe?

I’m not much of a pattern trader; although I respect it and use it as signal. What I do respect is volume, and so what i’ve done is identified the zone based on the consolidation area before our dump above, as a “zone to beat”.

What’s notable about this zone, however, is that it was created overnight. It began its dump at the London open (4am). What I know about overnight moves—they’re usually weaker, and incorrect. which also leaves two interesting narratives: were they definitively incorrect when they made the move, in which case, it’s time to turn back around? or, were they incorrect when they made it, and now that we are here before the session…before 7am even, and it’s time to pump it up?

We will see, as the day begins. As of this writing They’re still hovering around previous day’s value area high, and above the downward spike, so on the face, they’re building energy for a move higher. We’ll see if they decide to retreat.

đź“° News

Be alert: 10a.m. is PMI, known to shake things up a time or two.

Here’s to patience, learning, and profits!