S50H21 looking strong but is it time for a pullback??
Is S50H in an island reversal pattern or is it creating a flag, breakout from last 5 days consolidation will most probably tell us what?
As S50H is in a negative divergence and has not yet been able to close over the highs of March 2020 --Covid Highs-- a pullback down south to gather more power looks like the smart move. But the market is smart in its own way so might just as well show new strength and end the current week, with daily close over 978.
Up until today [when I went Short] I have only traded Long. Tomorrow [Friday] I gonna wait a bit longer, than I usually do, to see which side looks stronger, before I setup my day trades...yeah, that if S50H doesn't open with a strong gap, in any direction, that clears some wicks and traps investors. Because then, I will be there to help those investors get stopped out *haha*
As S50H is in a negative divergence and has not yet been able to close over the highs of March 2020 --Covid Highs-- a pullback down south to gather more power looks like the smart move. But the market is smart in its own way so might just as well show new strength and end the current week, with daily close over 978.
Up until today [when I went Short] I have only traded Long. Tomorrow [Friday] I gonna wait a bit longer, than I usually do, to see which side looks stronger, before I setup my day trades...yeah, that if S50H doesn't open with a strong gap, in any direction, that clears some wicks and traps investors. Because then, I will be there to help those investors get stopped out *haha*
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