DislikedLookie, lookie here! This is a trifecta in my opinion: 1) 1hr shows 200EMA hit 2) 4hr shows 55EMA hit 3) MurreyMath 2/8 level hit 4) R2 on daily pivot hit A very good probability that this will reverse from here (178.18) on hopefully down to 175.5. Let's wait and see.... {image}Ignored
I did end up closing the three shorts after they hit 177.50 after the movement down from 177.65-ish. Losses were acceptable compared to the likely retest of 177.90/80. Instead, we saw it go straight to the even bigger resistance of 178.10, so I decided to short there again. I consider it the market giving free 20-30 pips on a better trade for my trouble.
177.10/00 will be the main point of contention, and the halfway mark between 177 and 178 (177.60/50) has the potential for a retest to the upside if the bulls are still feeling feisty. Quarter way S/R (177.80, 177.30) are also viable, but less so than the others.