TF 5min
Volume pattern's looking very much like TF's going to form a head & shoulder/double top. There's a clear lack of fresh buying, just lots of bear covering. And one would think that THAT would encourage the bulls. But no, no one's buying.
Went in for 2 scalps - both long - and was looking to buy again on pull back. But now I'm not so sure I still want to buy. I'm not even going to buy that test up to the previous peak. Granted TF's traded from below pivot support 1 to above it, it's still trading below pivot.
Looking to sell double tops/HS (on 1min and 5min). Entry signal: TF closing below 434. Won't be going in before that - don't want to be caught in one of those nasty bear traps. Market just seems a tad oversold to me.
Went in for 2 scalps - both long - and was looking to buy again on pull back. But now I'm not so sure I still want to buy. I'm not even going to buy that test up to the previous peak. Granted TF's traded from below pivot support 1 to above it, it's still trading below pivot.
Looking to sell double tops/HS (on 1min and 5min). Entry signal: TF closing below 434. Won't be going in before that - don't want to be caught in one of those nasty bear traps. Market just seems a tad oversold to me.
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