After the wonderful and profitable dive from 1,618 extension, it's consolidating for the last two weeks.
4.550 area was tested and price returned down but in a easy way, showing that maybe there are not that heavy sell orders nesting there. Gap closed too.
Now it's coming back at the last known demand zone, where price airborned last time, creating the huge "polar" rally.
Price is supported by upward sloping MA 100 and short term momentum divergence helps
Seasonal studies showing that March and April are the best months behind September.
www.signalfinancialg...sonal/seasonalNG.php
Checking intraday reversal candles for a possible low risk entry with a tight stop, as it is countertrend now, might worth the risk .
Best of trading
Panos
4.550 area was tested and price returned down but in a easy way, showing that maybe there are not that heavy sell orders nesting there. Gap closed too.
Now it's coming back at the last known demand zone, where price airborned last time, creating the huge "polar" rally.
Price is supported by upward sloping MA 100 and short term momentum divergence helps
Seasonal studies showing that March and April are the best months behind September.
www.signalfinancialg...sonal/seasonalNG.php
Checking intraday reversal candles for a possible low risk entry with a tight stop, as it is countertrend now, might worth the risk .
Best of trading
Panos