Mind The Gap
Today's lower wick stopped at the .38 fibonacci level on a sell off day post the gap up.
Despite giving up most of the 2-day gains the trend still looks sustainable.
ADX is rising into the strong trend zone while D+ crossed D- signalling an uptrend.
RSI broke above the overbought zone but slipped back.
I anticipate this gap to fill followed by a period of consolidation in the 4.60 range. Waiting for the RSI to move up over 70 for a possible swing trade entry.
Target:5.53, 6.21, 8.18 in the short term.
Despite giving up most of the 2-day gains the trend still looks sustainable.
ADX is rising into the strong trend zone while D+ crossed D- signalling an uptrend.
RSI broke above the overbought zone but slipped back.
I anticipate this gap to fill followed by a period of consolidation in the 4.60 range. Waiting for the RSI to move up over 70 for a possible swing trade entry.
Target:5.53, 6.21, 8.18 in the short term.
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