The market took time today to rest and digest its next move. Both sides were active today and the Algos played a ping pong game. That offered trading opportunities at the edges. In my view the short term bias switched to neutral today. The large and intermediate biases remain bullish. However, the daily candle close is bearish. It suggests a continuation to downside. This is what is expected. A new balance is being formed and the market is in the discovery to set the edges. Tomorrow is quadruple witching and we may see some erratic moves. Today’s action is not indicative of what to expect next. The buyers managed to defend 50% of yesterday’s range.
Buying pullbacks is still a lower risk strategy. Until we see a strong rejection forcing to flip the bias that strategy is dominant.
03/14/2019
Buying pullbacks is still a lower risk strategy. Until we see a strong rejection forcing to flip the bias that strategy is dominant.
03/14/2019
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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.