Short drop potential for this week.
I screwed my screen yesterday and ended up in a two screen view which looks crappy.
This one is isolated.
Of note, at the time I had two plans, one was to get long AFTER a tap on green pivot then go long. This occurred yesterday. I left the micro yellow arrow there for continuity but it is not much of an option at this point. if price drops to the green pivot again, I would not be surprised to see a candle go below it.
That being said, I still have a long bias for the time being. However, if price has a hard time moving past the area where it is in right now, there could be a possibility of an imminent drop of 200 pips or more. Note that price could pop close to the blue pivot above and start the drop from that level.
I have no idea what will happen. I just have a few scenarios in mind.
This one is isolated.
Of note, at the time I had two plans, one was to get long AFTER a tap on green pivot then go long. This occurred yesterday. I left the micro yellow arrow there for continuity but it is not much of an option at this point. if price drops to the green pivot again, I would not be surprised to see a candle go below it.
That being said, I still have a long bias for the time being. However, if price has a hard time moving past the area where it is in right now, there could be a possibility of an imminent drop of 200 pips or more. Note that price could pop close to the blue pivot above and start the drop from that level.
I have no idea what will happen. I just have a few scenarios in mind.
Comment:
Example of what I mean by short accumulation before a drop:
