Price action just about keeping above the Asian and London opening ranges at the moment. All relatively simple: we are waiting to see what the reaction to the drop is going to be. I was expecting a drop into this area or slightly lower last week but across all my charts there is an awful lot to be backtested at the daily pivot area, notwithstanding the bearish picture here, and the momentum studies look primed to help out. Thing is, if it gets there, it will have crossed the gap. Worth bearing in mind that the pink weekly trend line (of the daily pivot) is pointing uphill along with this regression channel. I'll be playing any further drops as a 'return to the mean' play.
No comments:
Post a Comment