Using the teal line as the mean, every time price moves roughly 650 ticks above the mean, it snaps back.
We are pushing off the mean now and I believe will continue bullish up to 40,500 which is roughly 650 ticks above the mean.
Monday I expect a bullish continuation higher.
After the move is complete, I will be looking for the revert back to the mean. I don't know if it will move below the mean or not.
The move below the mean will be able to close that gap to the downside
The average range of a monthly candle is roughly 2500 ticks from high to low
We are pushing off the mean now and I believe will continue bullish up to 40,500 which is roughly 650 ticks above the mean.
Monday I expect a bullish continuation higher.
After the move is complete, I will be looking for the revert back to the mean. I don't know if it will move below the mean or not.
The move below the mean will be able to close that gap to the downside
The average range of a monthly candle is roughly 2500 ticks from high to low
Note
The mean is in the middle of the up and down 15 minute 200 period moving average. It is oscillating between that 200.Note
Monday is slated to gap up and likely to continue in the bullish move higher to the 40,500 level plus or minus. Trade closed: target reached
I entered not on the fat bar but the small bar after it for added confirmation. I had a 50 tick stop and a 85 tick target. I ended up closing early at 72 ticks due to the 200sma right there. I don't know if it will bounce off of it or continue through it. The safe play is to go to the 200sma.
My one and only trade of the day for Monday. +$360.00
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.
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.