Earlier I said that there was one intraday chart (2 min) that was negative in MCP today, more so than I'd think as it stood out so I decided to keep an eye on it, sure enough several other charts followed it.
For me this isn't a big deal or anything that I'm taking any action over, but I know everyone has different trades and methods so I thought I'd update it.
There are a lot of good looking charts in longer timeframes as you have seen, this 15 min just happens to have a good divergence on a head fake move below support before lift off and ultimately it's in line so for my purposes and the way I view this as a longer term position, there's nothing for me to do here other than hold.
However here is that pesky 2 min which actually looks better than it did early, but still clearly negative, there was nothing around it that was even remotely negative so I thought it may just be an anomaly, but apparently it isn't.
Soon after the 3 min chart went negative as we got a rounding move in price (at minimum a loss of upside momentum, at worst a potential short term top).
That is now just reaching the 5 min chart.
I probably wouldn't even take action as a trading position unless the 5 min chart started to look really ugly, but in any case it appears this initial move is seeing some profit taking at best.
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