has been reluctant to short term indicators as of late, and traders have seen more of an impulsive bull rally, often finding it hard to get a good entry. After this mornings Gap up, I will be sitting out, waiting for some form of confirmation. My long term view is a slight pull back and push up towards 13,800 (Upper resistance channel). Then we could see a retracement of some size, however not before tying it in with a fundamental reason.
Please see my last post for a shorter term P.Fork I took yesterday, closing out at 3/1. The trade failed to retest the median line
This is my theory, please do not trade purely off of what I am posting, instead compare it to your analysis. I am wrong 40% of the time, so find your edge!