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I see a range. The last 5 hourly bars can now be seen as a bear flag, so maybe the pullback isn't over. It may test the range low which if decisively break it, then the chart would be ugly (double top instead of range), so key time.
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usually rebound first when gap down so wait for the rebound to finish first then we'll see. I have no intention to trade today unless it turns out to be a trend day. We'll know in couple of hours.
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We gapped down over the 271.93 PBar so I have left it Blue - untagged?? In play below is 269.70 and 266.93 (not showing on this chart)
Remember gold Lines are previously tagged PBars. Interesting to me how they remain price levels of "interest / congestioin"
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I have extended the point of control-maroon line- for clarity on this 15 minute regular hour look at the action since this move started, thanks for the idea to FT71 who was on a major rant today about how to do what he does, worth watching when you have 30 minutes.
usually rebound first when gap down so wait for the rebound to finish first then we'll see. I have no intention to trade today unless it turns out to be a trend day. We'll know in couple of hours.
DXY testing last HOW.. 94.06 over it look to 94.21/95.15 .. /GC slipping bear flag daily critical level for gold is 100w/20month SMA 1275/70 that goes look out below.
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it's morning hourly hollow red. the implication is on the top left of the chart itself.
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15min smalls
Higher lows broke to LOWER LOW yesterday. With any luck, the BTFD crowd will take a nap for a day or two, allowing the bears to sell the pops, but best be on edge for anything resembling another higher low and/or a squeeze, ESPECIALLY BE ON WATCH FOR 2:00 ET FOMC
[old post from 5/21]
unless cured soon, that momentum divergence on smalls often plays out with a little pullback within a day or two
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.