Consistent with the need for pullback yesterday, Price Action broke consolidation to the North, stopping beautifully, on our Resistance Trendline #1, where it turned immediately, bound for another test of the long term Support #2. Twice we tried to catch the rally, with only our second attempt triggering to TP1 for a Break Even result. It appeared the buyers held out for the swag of U.S. news which set the rally in motion. A third order looking for a Short, was totally ignored. No harm done, our money safe until next week.
It being Friday – no real interest but with PA back below the Support Trendline & a pullback yesterday, I’m thinking SHORT.
The Day Ahead
A renovating weekend for me so plenty of opportunity to conjure a thirst for a couple of cold beers I think. I trust yours is a nice weekend, whatever it is that fills your agenda.