Today's much anticipated NFP report did not make a firework. Nevertheless, the buyers were holding well the gains from the Globex session. The day session was quiet slow and less exciting but offered a long position from support. Gotta take what the market offers. So far the buyers are in firm control and hold the price above previous month high.
The all time high is close and the buyers need a little push to get there.
What to expect:
- everyone sees the ATH price levels and perhaps wait for a pullback to get on board. However, the momentum is not there. The new buyers are not coming at this price levels. The old buyers are trying to squeeze a little bit more out of the aged bull. As long as the music is playing they continue to dance on the ceiling.
- the bears see the ATH level too and wait for the exhaustion or top blow off. Perhaps a volume climax would do too.
It is clear from the price action that the bulls need some motivation. If that is not coming soon the bears would step in and start the assault.
From my observation of the Algos behavior: Algos like motion detectors - they react on the movement to fade it. They take a contra action first. If there is no movement they don't make money. Eventually, something would trigger them for everyone's benefit :)
A note for the bears: If a strong downside move starts it may go on until the gap in the middle. That is a reasonable target.
A note for the bulls: buy a pullback until it does not work. Fundamentals don't matter if the market does not follow them.
04/05/2019
The all time high is close and the buyers need a little push to get there.
What to expect:
- everyone sees the ATH price levels and perhaps wait for a pullback to get on board. However, the momentum is not there. The new buyers are not coming at this price levels. The old buyers are trying to squeeze a little bit more out of the aged bull. As long as the music is playing they continue to dance on the ceiling.
- the bears see the ATH level too and wait for the exhaustion or top blow off. Perhaps a volume climax would do too.
It is clear from the price action that the bulls need some motivation. If that is not coming soon the bears would step in and start the assault.
From my observation of the Algos behavior: Algos like motion detectors - they react on the movement to fade it. They take a contra action first. If there is no movement they don't make money. Eventually, something would trigger them for everyone's benefit :)
A note for the bears: If a strong downside move starts it may go on until the gap in the middle. That is a reasonable target.
A note for the bulls: buy a pullback until it does not work. Fundamentals don't matter if the market does not follow them.
04/05/2019
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.