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Revisit the day low again, watch for possible double bottom as so far looks like a range day (FOMC tomorrow, remember?).
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Bonus chart: will the Fed provide optimism to the next hourly green bar before new LL? we will find out tomorrow. EIS bar assist trade reminder. I think the bottom is in for intraday today, if I have to guess. agree with cobra chop chop end of of day. Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Nothing to add to what has already been said. Market has to be concerned about a rug pull by the Fed. Yellen is voicing concern (which is a new move) so my guess is Powell has no choice, he must try to jaw bone about controlling inflation because he is doing nothing to stop it with monetary tools.
So far went as expected. The current drop shouldn't make a decisive new low otherwise the whole pattern will have to restart from the start.
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