Higher time frame bias is bearish retracement back down into 41,300 July FOMC level.
Downtrend, so looking for a lower high into resistance levels for trend continuations.
Right now the September FOMC High is being used as a potential resistance level.
Limit order at 42,518
Stop at 42,633
Target 41,383
Downtrend, so looking for a lower high into resistance levels for trend continuations.
Right now the September FOMC High is being used as a potential resistance level.
Limit order at 42,518
Stop at 42,633
Target 41,383
Note
Because the November CPI is coming up in what appears to be at the bottom of the retracement (the same as September) I am expecting lower prices until then. I believe CPI will be the "catalyst" to start the bullish move.Of course, the biggest release of them all is FOMC right after the election
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Related publications
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.