Can I just say WOW at the rejection at the 200MA ?!? Honestly this is playing out how I would like to see the market.
I recognize a price action candle, the shooting star. The shooting star often occurs when the market is buying and begins to react at some level of resistance. I am identifying my level of resistance as the 200MA.
I would like to see todays candle (11/16) to close as an engulfed candle. ONLY IF todays candle close with momentum, the market is likely to continue to sell…
But as of right now, I am going to sit on my hands and continue to watch the market form.
I recognize a price action candle, the shooting star. The shooting star often occurs when the market is buying and begins to react at some level of resistance. I am identifying my level of resistance as the 200MA.
I would like to see todays candle (11/16) to close as an engulfed candle. ONLY IF todays candle close with momentum, the market is likely to continue to sell…
But as of right now, I am going to sit on my hands and continue to watch the market form.
Trade active:
Based on Fridays closed candle, I'm thinking this market COULD pull back to the 7MA and continue to go higher.
