Following on from my last idea it seems we are seeing some move to the downside. The question is could this just be a corrective wave or a return to the ascending channel. We do feel more funadmentally susceptible at present but there is still a high level of demand.
Interestingly following on from the FOMC bombshell, most indices are trading below there respective 8ema on the higher time frames with the american indices floating below there daily 8EMA. This is often a decent reversal sign for me if I can see good price rejection of that level on the 15m and 1H time frames. Going forward I do not anticipate the data tomorrow (NFP) to have any doveish connotations but I suspect a high number may already be priced in. The Omicron story appears to be becoming more positive despite significant healthcare entities declaring incidents which certainly leans in favour of the bulls.
I will be taking a small downwards entry(7470-80) looking for movement back into the 12-month old ascending channel with further opportunity to scale if we some good price action within.
GL!
Interestingly following on from the FOMC bombshell, most indices are trading below there respective 8ema on the higher time frames with the american indices floating below there daily 8EMA. This is often a decent reversal sign for me if I can see good price rejection of that level on the 15m and 1H time frames. Going forward I do not anticipate the data tomorrow (NFP) to have any doveish connotations but I suspect a high number may already be priced in. The Omicron story appears to be becoming more positive despite significant healthcare entities declaring incidents which certainly leans in favour of the bulls.
I will be taking a small downwards entry(7470-80) looking for movement back into the 12-month old ascending channel with further opportunity to scale if we some good price action within.
GL!
