TF (Hourly)
D is optimistic about the market, and I thought I was too. But I've been staring at the TF 1hr chart, and the only thing I'm seeing is that any upward move from where it is right now is going to be stopped by the uptrend line - if not the uptrendline, then 470 resistance - then it's going to tumble down pass 454.5 support to test 436.
Anyway, am going to stick to scalping unless TF gets up to 470 - then I will buy on pull back and target for exit at Fib ext. 161.8 (490).
Should TF drop below 448, I'll just continue to scalp while waiting for it to test 436.
That's the plan for now. Inverted Scallop and all the Triangles in the world are not helping to make me feel more optimistic. The Scallop might, if it gets wider...It's another 10hours to go before market opens... that should give it enough time to complete...
Triangle looks busted. TF has broken out on downside, and if it were to climb back up, that would officially bust it. If that happens, I'll definitely be looking out to buy above 470.
Anyway, am going to stick to scalping unless TF gets up to 470 - then I will buy on pull back and target for exit at Fib ext. 161.8 (490).
Should TF drop below 448, I'll just continue to scalp while waiting for it to test 436.
That's the plan for now. Inverted Scallop and all the Triangles in the world are not helping to make me feel more optimistic. The Scallop might, if it gets wider...It's another 10hours to go before market opens... that should give it enough time to complete...
Triangle looks busted. TF has broken out on downside, and if it were to climb back up, that would officially bust it. If that happens, I'll definitely be looking out to buy above 470.
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