I cannot catch the essence of the market today, seems pretty strong downtrend day although it doesn't appear so. Looks like every rebound gets sold on EMA20. In this case, trend is your friend, that's all I can say now.
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trader wrote:Was the most recent high on 1 min chart H2?
Don't understand your question, which one?
around 130.65
The bar on 130.50 is H2.
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Lunch time. A failed 2 leg up would be bad again, watch...
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This pullback looks nearly done to me, baring any real black swans fouling the waters!
The RUT is the key and is respecting support - none of my my sensitive indicators are going bearish yet. (In fact the weekly 40/200 is about to cross in real bull fashion - though price would fall to 1250 and still remain bullish in this chart).
OK, indeed the failed 2nd leg up is bad and we've been experiencing this for many many times, until this changes, the trend is still down, watch...
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wow. Still trend is your friend, that's all I can say, no matter how experienced you're. I didn't expect this, I admit. Now the problem is, in order for a reversal, we have to undergo the same lengthy procedure: breakout trendline, then back test the previous low, then rebound...
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