Well, what a day yesterday turned out to be as the bungee chord went into overdrive. First up, I spotted a nice acceleration point and was rewarded with a nice Short that travelled beautifully to target. The consolidation that had been forming inside a Pennant looked likely to break Long thereafter, as the bungee effect went into full swing. The result of the Long order we placed was dependant on which Broker you use. Some brokers triggered an entry, others did not. Those not – had a nice winning day, those that did – had to settle for one and one. Our second S&R attempt to get Long this week has not yet been filled.
PA appears very reluctant to stray far from the two central Pivots (DP & WP), forcing the Pennant to remain intact. This must end of course but which way, is anyone’s guess. That the Pivots remain Bearish, probably has me slightly Short biased but I’m certainly happy to accept what might be on offer. We can probably consider DP tested, though it’s a very close call.
The Day Ahead
High Impact News – CET
Have a great day everyone.