Firstly my apologies for yesterday’s NON event contribution on my behalf. Technology is a wonderful thing – WHEN IT WORKS!!
Computer & internet restored, I notice that the 1.3340 DCZ once again produced a bounce, this time (to date anyway) a lesser rebound than last weeks’ but a rejection, nonetheless. Prior to that occurring in late UK Session, PA was all one way – Short, from NZ Open on. No opportunity to tag along was afforded us until after the bounce, when we placed a Swing & Relax Short. This order is yet to be filled.
DP snuck away from WP’s clutches as a result of the selling yesterday and a clear Bearish formation is the result. Countering that to substantial degree (as a result of the bounce) is the third leg of a Triple Bottom #1. Though I’m biased Short, the reversal is definitely loaded. Should I get confirmation like a Resistance Trendline break or significant Higher Low, I might get interested in pulling the trigger counter trend.
The Day Ahead
DP is the key level today (not unusual) – I’ll look for Longs above it (subject to reversal confirmation) but definitely Shorts on the underside.
High Impact News – CET
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Wishing you a Wonderful Wednesday.