An oversold market found responsive buyers. The price has channeled the entire session. A news driven momentum change is a typical reaction seen in the world of Algos. Short and long entries are available for day traders. When volatility spikes it makes sense to wait for conservative locations to allow smaller risk.
The market closed at a resistance level. There is also a diminishing momentum seen on the below indicators. There are several type of reactions happen at the inflection points:
- A slice through like it means nothing
- A pause
- A reversal
A pause usually ends up with continuation resuming the main move. I anticipate to see the continuation to the next resistance level. If not then the price may go to a support below where responsive buyers may be active again to channel it up.
Large ranges offer great opportunities.
Stay nimble.
08/06/2019
The market closed at a resistance level. There is also a diminishing momentum seen on the below indicators. There are several type of reactions happen at the inflection points:
- A slice through like it means nothing
- A pause
- A reversal
A pause usually ends up with continuation resuming the main move. I anticipate to see the continuation to the next resistance level. If not then the price may go to a support below where responsive buyers may be active again to channel it up.
Large ranges offer great opportunities.
Stay nimble.
08/06/2019
