Good news rally from Fed Powell holding 0618 Fib.
Updated
With FED Powell giving clear guidance, all markets rallied. The 0.168 Fib retracement holding with 5 minutes to go. We are long from 4316.25 with a stop @4305.25. Objective is .50 fib retracement @ or around the 4350 area and will add to position with new highs. Techonomic Trading Strategies 90% Technical Analysis 10% Fundamental Analysis
Note
Looks like our good news momentum trade is going to turn into a scalp trade. No follow through in the overnight session so, we move our stop to 4363.25 to lock in profits. If we are not stopped out, we will add to position on new highs.Note
Our position was stopped out @ 4363.25 after the 0.618 holding for 22 hrs. We considered closing out around the 4400 area in the 22nd hr. but it was not in line with our plan. So now we look for other opportunity. Techonomic Trading Strategies 90% Technical Analysis 10% Fundamental Analysis. Happy Trading!Note
Ah! Negative comments from Macron after a conversation with Putin saying the worse is yet to come.
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