A complete reversal of yesterday's parabolic move. This is a zero sum game: both bulls and bears make money. The market is for active traders who can read it. Use trend lines and support/resistance levels to understand where the action is and who gets a short term control.
As I mentioned in my previous posts the Algos are trend following and session oriented machines. They don't change their direction once it is set. Only news events can impact that.
As we can see from the chart a balance is formed right in the middle of the level. Watch its resolution. That would set a short term direction. From price action perspective it is supposed to go lower. If not then use that as a sign of reversal.
8/14/2019
As I mentioned in my previous posts the Algos are trend following and session oriented machines. They don't change their direction once it is set. Only news events can impact that.
As we can see from the chart a balance is formed right in the middle of the level. Watch its resolution. That would set a short term direction. From price action perspective it is supposed to go lower. If not then use that as a sign of reversal.
8/14/2019
