I mean it's pulled back quite nice from the morning highs
already, I was looking for a pullback anyway as we were up near
resistance, and had some negative divergence via the MACD and RSI.
Also note the MA ribbon, while it was nicely pinched early
last week on that pullback, on the flip side last Friday it got too
wide/expanded. I talk a lot more about the 'pinches/squeezes'
however whenever it gets too wide/expanded price is dude for a
reversion to mean pullback, basically price was ahead of
itself.
anyway price didn't take out that big resistance last week and
we have a big open gap from late last week just below
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Can anyone tell me what
Posted by isplat on 9th of Sep 2019 at 12:05 pm
Can anyone tell me what this market is waiting for?
I mean it's pulled back
Posted by matt on 9th of Sep 2019 at 12:24 pm
I mean it's pulled back quite nice from the morning highs already, I was looking for a pullback anyway as we were up near resistance, and had some negative divergence via the MACD and RSI. Also note the MA ribbon, while it was nicely pinched early last week on that pullback, on the flip side last Friday it got too wide/expanded. I talk a lot more about the 'pinches/squeezes' however whenever it gets too wide/expanded price is dude for a reversion to mean pullback, basically price was ahead of itself.
anyway price didn't take out that big resistance last week and we have a big open gap from late last week just below