What happens when the price reacts during the open?
Today during the Asian session open - Nasdaq had a gap down, this is due to
"Apple Inc. doesn’t expect to meet its revenue guidance for the March quarter because of work slowdowns and lower smartphone demand, showing that the virus outbreak in China is taking a bigger-than-predicted toll on one of the world’s most valuable companies" Cite: Bloomberg
This caused the trendline to also automatically break to the downside.
We drew a new zone as it is fresh in line with other wicks on the 4 hour.
The trend i still bullish, however awaiting London session to see if the price reacts to the failed gap fill in the Asian session.
Fundamentals provide a highly likely scenario in times like this. Supply and demand still applies, this just causes a trader to react appropriately.
Today during the Asian session open - Nasdaq had a gap down, this is due to
"Apple Inc. doesn’t expect to meet its revenue guidance for the March quarter because of work slowdowns and lower smartphone demand, showing that the virus outbreak in China is taking a bigger-than-predicted toll on one of the world’s most valuable companies" Cite: Bloomberg
This caused the trendline to also automatically break to the downside.
We drew a new zone as it is fresh in line with other wicks on the 4 hour.
The trend i still bullish, however awaiting London session to see if the price reacts to the failed gap fill in the Asian session.
Fundamentals provide a highly likely scenario in times like this. Supply and demand still applies, this just causes a trader to react appropriately.
Trade closed manually