20 pips up.
But of course, I'm cautious.
But of course, I'm cautious.
1
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DislikedRemember that for any meaningfull continuation downside we need acceptation below both 24065 and 23975: if not all the way upside up to 2481 (as a direction). Note that we are leaving above a very weak structure, starting with E high at previous half back 2425 and continuing with session high at yesterday low 2441. ....Ignored
DislikedHi Lock, I always value exchange of opinions and thoughts. If I read correctly, you believe this to be a mere shorts covering process, ie. a dead cat bounce, to around 2481?Ignored
Disliked{quote} Well a short covering could also morph into something more serious. We will see tomorrow. All the sessions clearly rejected the mid levels of any major bracket today. Tokyo rejected 23805 (half back of the entire bracket from 06.12.2016 to 16.01.2017 valid for all sessions), then GB rejected 24072 (half back of the entire GB bracket from from 02.02.2017 to 14.03.2017) and it also rejected 2396 (entire GB downside action from 06.12.2016 to 16.01.2017). Then eventually pit session rejected its own major half back at 24065 (LAST PIT MOVE DOWN...Ignored
DislikedD inside C. D and C highs both at initial half back(2419). D and E lows both at yesterday GB close (24085). Very weak environment. It could break from D but watch out if you will not see continuation in the direction of the initial break because the other extreme of the balance is weak. First new test below major half back (24072) failed.Ignored
DislikedFor a substantial continuation upside we want a double distribution profile: meaning that we want to preserve current single prints above A high 2431. If it will come back downside to this level we will not have anymore the possibility for a double distribution. In this case the continuation could be more difficult. Let's see.Ignored
Disliked2428 move up from 25.10.2016 to 16.12.2016 half back could work as support if reached but if not watch out for correction downside.Ignored
Disliked{quote} As you see it bounced exactly at this level 2428: it's an automatic buy made by weak hands, so watch out because it is a weak ref now, coinciding with open price. Let's see if it can last untill poor high at 2443.Ignored