Clear Momentum Divergence on the 1hr Chart
Before I go any further I call B.S on the breakout due to weak news of "Canada Wholesale Sales MoM".
Looks like a play the day traders profited on, and the short-term players will take home their profit, the North American Markets and London markets were part of that breakout.
Sydney and the Asian markets as of now are pretty much of a "meh" attitude to that breakout this by large leads me to believe this is a false breakout coupled by momentum divergence.
Risk Reward is essentially set at a confirmed second breakout, something I believe is unlikely right after an extremely range-bound market. however, all that can go wrong will go wrong and this wouldn't be a bad set up to be wrong about personally.
Before I go any further I call B.S on the breakout due to weak news of "Canada Wholesale Sales MoM".
Looks like a play the day traders profited on, and the short-term players will take home their profit, the North American Markets and London markets were part of that breakout.
Sydney and the Asian markets as of now are pretty much of a "meh" attitude to that breakout this by large leads me to believe this is a false breakout coupled by momentum divergence.
Risk Reward is essentially set at a confirmed second breakout, something I believe is unlikely right after an extremely range-bound market. however, all that can go wrong will go wrong and this wouldn't be a bad set up to be wrong about personally.
