On Friday the market continued to drift down and eventually found a short term floor. Several opportunities on short and long side were available. The current structure and positive divergences are increasing the odds of a bounce. One need to be on a lookout to play it. I believe that both short and long opportunities would be available. I'm not in a business to predict whether we see more downside or a reversal to previous highs. The market provides new information every minute and shows its hand. The current short term conditions are in favor of the upside. A return to Friday's low would be a warning sign. However, if the positive divergences stay intact it would make a potential breakdown less sustainable.
On Friday's the market formed an intraday balance and we need to watch its resolution.
Stay nimble and consider risk/reward.
08/04/2019
On Friday's the market formed an intraday balance and we need to watch its resolution.
Stay nimble and consider risk/reward.
08/04/2019
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.