After looking like price going to breakout and make a new leg higher. price quickly snapped lower and moved into the range.
As the chart shows; price is trading within a fairly clear range.
Until one of these level gives we can look to trade both sides of the market from the intraday support and resistance back.
Thanks for your like and support...
There have been some solid contrarian moves in the last 24 hours.
The GBPUSD is a good example of this with price quickly snapping back below the major resistance level just as quickly as it broke out.
The support level of the recent consolidation and sideways pattern looks a key level for where this market moves next.
WDAY is working on a final sideways pattern before testing the completion level for this intermediate-term bottom. Large lots have recently created a Shift of Sentiment™ pattern in the Balance of Power Indicator with their large lot activity.
ADP has shifted to a Platform sideways candlestick pattern, and is experiencing some Dark Pool Quiet Rotation™. However, there is underlying buying activity of Smaller Funds, Professional Traders, and Investors. The candlestick pattern is compressing on the upside of the Trading Range at this time.
Huge growth in 2016 as speculative anticipation of more sales to China & other developing industrialization nations occurred. Unsupported by Fundamental & Technical support and resistance levels. Now in a sideways pattern, inevitably selling down toward a Business Bear Cycle pattern. Weekly chart view.
The Confections Industry has had an unusually strong year thus far, with some companies’ stock in speculation mode. HSY shifted briefly to a sideways pattern after a gap. It is now back in speculation mode.
CINF is an S&P 500 index component. The chart shows a platform sideways pattern typical of Dark Pool hidden accumulation. This was followed by a long white candle that was not HFT driven. The stock is now in another consolidation, at a new high with more hidden accumulation.