Result: 4hr hammer stopped the move down. The move up was difficult to trade with several upper wicks. A nice hammer with little/no upper wick after US news did allow a trade.
GU - Bias up but we'll have to see the reaction higher from here, a failure to move up would give a lower high and reverse the flow.
Result: Lots of lower wicks on 1hr before/after London open put stopped any move down and up bias played out.
EJ - D positive close. 4hr showing divergence and has gone virtually straight up from 119-129. Would be looking for any retrace lower as dip in uptrend. Bias up.
Result: 1hr hammer at London open set the stage for up bias to play out. We saw a shooting star immediately after the hammer on 1hr (one of our dreaded candle set ups) and then several hours of chop followed. Took several hours for a nice 1hr candle set up which had captured most of the move.
No comments:
Post a Comment