Here we have a downtrend starting in December. NFP is on Friday. I believe we have a head and shoulders pattern setting up. I will not trade in front of the NFP but I believe it will be used as the catalyst for the break of the neckline. I will wait for the retest of the neckline and or the retest of the downtrend line. Looks like first week red. First red day.
Note
The Vix is on the cusp of a break to the upside, indicative of selling pressure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.