The position arising here is another freeing move.
After sellers surrender the $3,500 pivot, it constitutes for a typical cascading of stops - the squeeze manoeuvre we have been tracking for a while finally is beginning to play out. Let's start with a traditional recap of the swing we have been tracking the past few sessions;
The analysis of the starting position was showing us the ABC sequence had been fulfilled and buyers were ready to conduct a flanking attack. This quick-witted move was administered with precision. In this case, the china noise is the same as someone being threatened by a mugger with a weapon, and the person deciding to grab on, continuing to hold, in an attempt that they cannot be hit.
After sellers surrender the $3,500 pivot, it constitutes for a typical cascading of stops - the squeeze manoeuvre we have been tracking for a while finally is beginning to play out. Let's start with a traditional recap of the swing we have been tracking the past few sessions;
The analysis of the starting position was showing us the ABC sequence had been fulfilled and buyers were ready to conduct a flanking attack. This quick-witted move was administered with precision. In this case, the china noise is the same as someone being threatened by a mugger with a weapon, and the person deciding to grab on, continuing to hold, in an attempt that they cannot be hit.
Comment:
not much to update here, we are still stuck to the same pivot level until further news/data
Comment:
almost at TP2...
Trade closed: target reached
