There has been a lot of choppy action, short term volatility, and big spikes on 5 minute candlesticks.
This creates an unclear trading environment on the shorter term time frames,
and a trading environment where technical analysis is less of a useful tool.
I personally took months off from trading last time this was happening.
I certainly dont expect to take that long off here, but I am not trading or establishing positions until I see some clarity.
The first shift in momentum needed for bulls is holding $9,000 and breaking $9,730.
If we get a bear break I will be looking for 4 hour oversold conditions to begin scaling in for a bounce.
If bulls break $9,730 I will establish a game plan that allows me some small exposure for the potential the bulls can still change the daily trend back in their favor.
This creates an unclear trading environment on the shorter term time frames,
and a trading environment where technical analysis is less of a useful tool.
I personally took months off from trading last time this was happening.
I certainly dont expect to take that long off here, but I am not trading or establishing positions until I see some clarity.
The first shift in momentum needed for bulls is holding $9,000 and breaking $9,730.
If we get a bear break I will be looking for 4 hour oversold conditions to begin scaling in for a bounce.
If bulls break $9,730 I will establish a game plan that allows me some small exposure for the potential the bulls can still change the daily trend back in their favor.
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