Critical prior momentum high was exceeded, setting the stage for a fall. A break to new highs will invalidate this setup, particularly if it's accompanied by volume.
I will consider this setup confirmed if support is broken on the 15 and 1hr time frames, particularly with momentum confirmation.
I will consider this setup confirmed if support is broken on the 15 and 1hr time frames, particularly with momentum confirmation.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do. - William Eckhardt