1. Rangebound market overall.
2. Current price action in down trending range highlighted by trend lines.
3. Flat 100 and 200 day moving averages.
4. Price failed to test top side trend line at the .236 Fib level
5. Targeting .2725 price range which is +100 pips to the downside at the confluence of the .618 Fib, the lower low extended trend line, and the 200 day moving average.
2. Current price action in down trending range highlighted by trend lines.
3. Flat 100 and 200 day moving averages.
4. Price failed to test top side trend line at the .236 Fib level
5. Targeting .2725 price range which is +100 pips to the downside at the confluence of the .618 Fib, the lower low extended trend line, and the 200 day moving average.
Comment:
4;15 pm on the daily, 45 minutes to close. hanging man forming on most recent candle.
Comment:
8 am est price is testing confluence of 200 hour moving average and the 100 day moving average. can cut profits for 40 pips, move stop closer to break even, or stay put.
Both 100 day and 200 day still flat. expecting range activity to continue. to the with a bearish bias.
100 day moving average is the milestone to overcome now.
Im staying short with my original target and keeping a wide mental stop.
current low bar can be considered a new lower low or a breakout low of the last 6 daily candles trend minimal up trend.
Both 100 day and 200 day still flat. expecting range activity to continue. to the with a bearish bias.
100 day moving average is the milestone to overcome now.
Im staying short with my original target and keeping a wide mental stop.
current low bar can be considered a new lower low or a breakout low of the last 6 daily candles trend minimal up trend.