Zooming in a bit to the hourly, yep, that's a break.
But I'm a little cautious here, considering it's so obvious that everyone
and his midget assistant is gearing up for a sell, the distance between
here and the retest of the broken TL is the potential risk.
For a proper R:R equation, the risk is still a bit too high.
More large payers would likely come forward and sell into an upward move,
as they'd need the additional buying to absorb all the real money selling
they would do in the upper 4200 range if available. Maybe even to the 4300. (???)
NFP is a little over 48 hours away....also a consideration.
All in all, I'm not opposed to sales, just not all in here and certainly not all at once.
14400+ is a good distance away and a break over would be the only clear indication
that movement would continue up instead of down. 144 is a really wide stop.
So hence the RR for big positions is out of whack still. Just saying what I'm seeing here.
My M.O. would be to continue to grab 'em while you can, when you can
and not get tied to one way or the other. Still looks like a bear is coming this month.
But I'm a little cautious here, considering it's so obvious that everyone
and his midget assistant is gearing up for a sell, the distance between
here and the retest of the broken TL is the potential risk.
For a proper R:R equation, the risk is still a bit too high.
More large payers would likely come forward and sell into an upward move,
as they'd need the additional buying to absorb all the real money selling
they would do in the upper 4200 range if available. Maybe even to the 4300. (???)
NFP is a little over 48 hours away....also a consideration.
All in all, I'm not opposed to sales, just not all in here and certainly not all at once.
14400+ is a good distance away and a break over would be the only clear indication
that movement would continue up instead of down. 144 is a really wide stop.
So hence the RR for big positions is out of whack still. Just saying what I'm seeing here.
My M.O. would be to continue to grab 'em while you can, when you can
and not get tied to one way or the other. Still looks like a bear is coming this month.