I have written all my thoughts on the chart cause I find it easier to spot everything when all the information is right there, along with the price and the indicators. This is only a case study, not a trade ideea. I'm really confused by the weekly here, but the daily has an interesting setup. The problem is that the spot market gapped up last night, with Australia rallying. This shows that Friday's momentum didnt continue, until now, and I recently learned (on my own expense) that it's very important to see Friday's momentum continue on Monday. Besides, this week we have the official labor day, and the markets are bullish before holidays. Take last Christmas and Easter as an example.
I am rather bearish on the weekly chart, but the time where I should have been bearish was 7 weeks ago, when the signal was clear and I missed it.
I am rather bearish on the weekly chart, but the time where I should have been bearish was 7 weeks ago, when the signal was clear and I missed it.
