Today's daily range has been pretty wide.
Here's what caused the wide downside part, it appears to be an early morning attempt to wash out stops.
The recent move is a bit more parabolic then it appears on the 1 min chart. Trading is certainly out of recent character.
3C 1 min is not following FSIN higher.
Nor is the 5 min chart.
I would keep an eye on the 50-bar m.a. on a 60 min chart, it may be the key to a reversal here.
The 15 min hart hasn't gone south yet and I'd like to see that happen before jumping in the trade with both feet. By the looks of the 1/5 min 3C charts, it may happen quickly.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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