This doesn't happen very often, but it seems that it wants to form a Bearish Tri-Star formation. I might be wrong, but sure looks like that.
In theory, this would be ideal for that. Today is Thursday, the Dow could close with another tight range and then tomorrow, sell off during the NFPs. Great scenario. Works out perfectly... in my head...
I recommend to stay away from trading it today and just observe.
It might not form any third star and then just do, whatever it wants. But if it will form the third star, then this is a textbook bearish formation.
As always, keep an eye on the price action!
In theory, this would be ideal for that. Today is Thursday, the Dow could close with another tight range and then tomorrow, sell off during the NFPs. Great scenario. Works out perfectly... in my head...
I recommend to stay away from trading it today and just observe.
It might not form any third star and then just do, whatever it wants. But if it will form the third star, then this is a textbook bearish formation.
As always, keep an eye on the price action!