Stuck in the middle with you
That was some whiplash yesterday attempting to complete the three drive rise. :)
The 4h momentum wave (blue arrow) is still bearish, which in turn is sapping the life out of any attempts on the lower time frames to get any bullish momentum going. The indicator is continuing to keep us out of trouble by identifying the local tops (red triangle) and the strong bearish continuation points (yellow Xs). That combined with the 200D moving average (thick orange line) is making it hard to escape this channel to the upside.
I don't see us breaking this pitchfork to the downside, but maybe we will have to wait for the 4h to clip bullish before we can break out. This close to the middle of the fork I'm in no trade.
The 4h momentum wave (blue arrow) is still bearish, which in turn is sapping the life out of any attempts on the lower time frames to get any bullish momentum going. The indicator is continuing to keep us out of trouble by identifying the local tops (red triangle) and the strong bearish continuation points (yellow Xs). That combined with the 200D moving average (thick orange line) is making it hard to escape this channel to the upside.
I don't see us breaking this pitchfork to the downside, but maybe we will have to wait for the 4h to clip bullish before we can break out. This close to the middle of the fork I'm in no trade.
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