THE END OF THE 2ND BAT / W?
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the middle
- Expecting the unexpected on a day-day basis, though short for now
- RSI and MACD have reached levels that were last seen in our October rally
- In the days following these technicals:
- The RSI took 8 days to get to it's "happy medium" at 40
- The MACDs crossed 3 days later, beginning their descent down to 0, and eventually -48, converging only twice
- The two convergences of the MACDs were lower highs, followed by lower lows, watch for a similar pattern should we stick in this "tidy channel"
- Keep in mind, the daily 200ma isn't our strongest, and given a couple tests can be punctured, as seen between October and January
and as always, please feel free to discuss :)
happy trading!
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the middle
- Expecting the unexpected on a day-day basis, though short for now
- RSI and MACD have reached levels that were last seen in our October rally
- In the days following these technicals:
- The RSI took 8 days to get to it's "happy medium" at 40
- The MACDs crossed 3 days later, beginning their descent down to 0, and eventually -48, converging only twice
- The two convergences of the MACDs were lower highs, followed by lower lows, watch for a similar pattern should we stick in this "tidy channel"
- Keep in mind, the daily 200ma isn't our strongest, and given a couple tests can be punctured, as seen between October and January
and as always, please feel free to discuss :)
happy trading!