Trying to make some sense out of 1h chart
636 1st reaction after Mar 1st
*so that's 3 days gone without a position (if I were to trade reaction) reaction came around midnight almost the next day so I'll need to stay longer and will lose few hours of sleep I guess I wouldn't really mind that because well 3 days gone without a trade and maybe 3 days off ? I like the added benefit of days off and not sticking my face in front a screen 7 hours a day and not really accomplishing anything.
Don't see any sign of bulls at this point and the move yielded around 100pips
628 2nd reaction Mar 5th
Going down from this level 587 was looking suspicious but to go up from here I'll need a fractal above 587 and 563 was missing a retest on 1h previous resistance broke 562 nope this is a sell fractal (opposite fractal) this was a sell reaction as well.
Yield 44pips
623 3rd reaction Mar 6th
587 I see a fractal up but until 623 breaks and holds on 5min which it didn't on 5min and 1h fractal turned into a sell reaction fractal. So this confirmed to be a sell reaction in the after all.
Yield 35pips
Onto to the now 587 bulls lost their chance 623 reaction did win in the end. Now price hanging right above 563 unless I see an up fractal above 563 but I'll need one more above 587 and support break and hold above as well to be a buy this looks very grim still for bulls. I'm tilted more 70% towards bears.
In terms of action,I don't see anything that had happened yesterday but 563 ? I see 587 broke and reaction in progress on 1h will it open with a gap down ?? another possible action level 563 if there' a gap down at the open.
For today I'll wait and see first on 1h let's try to trade the reactions!! I think its something that I might be able to do.
636 1st reaction after Mar 1st
*so that's 3 days gone without a position (if I were to trade reaction) reaction came around midnight almost the next day so I'll need to stay longer and will lose few hours of sleep I guess I wouldn't really mind that because well 3 days gone without a trade and maybe 3 days off ? I like the added benefit of days off and not sticking my face in front a screen 7 hours a day and not really accomplishing anything.
Don't see any sign of bulls at this point and the move yielded around 100pips
628 2nd reaction Mar 5th
Yield 44pips
623 3rd reaction Mar 6th
587 I see a fractal up but until 623 breaks and holds on 5min which it didn't on 5min and 1h fractal turned into a sell reaction fractal. So this confirmed to be a sell reaction in the after all.
Yield 35pips
Onto to the now 587 bulls lost their chance 623 reaction did win in the end. Now price hanging right above 563 unless I see an up fractal above 563 but I'll need one more above 587 and support break and hold above as well to be a buy this looks very grim still for bulls. I'm tilted more 70% towards bears.
In terms of action,
For today I'll wait and see first on 1h let's try to trade the reactions!! I think its something that I might be able to do.
Tape reading is an ART