A balanced session today. In the morning the sellers attempted to break the balance outlined as a rectangle on the chart but failed. I don't read any news feed, could've been a news. But a swift rejection was telling to reverse from short to long and ride it. 8 out of 10 times when the balance break fails the price travels to the opposite edge of that balance. Today was not an exception of that rule. It took the whole day session and one needed patience of a monk to hold it.
The market remains confined in the narrow range and this increases the odds for a directional move. For now the buyers have higher chances to break through. But the best is to wait and see. Until the price is in the balance the bias remains neutral.
End of month is approaching. We can see all kinda crowd working on their positions. That may add to the volatility.
8/28/2019
The market remains confined in the narrow range and this increases the odds for a directional move. For now the buyers have higher chances to break through. But the best is to wait and see. Until the price is in the balance the bias remains neutral.
End of month is approaching. We can see all kinda crowd working on their positions. That may add to the volatility.
8/28/2019
