Higher upside or Bull trap?
Yesterday we spoke about the Dollar weakness and how that will affect the equities markets.
As expected due to the strength of a weak dollar 😉 NQ broke the Highs it had stablished on the Hourly timeframe a $15432.00.
The one thing we spoke about and speculated we would see today did not become a reality.
We were expecting once the highs were breached for price to retrace and possibly target Hourly Lows.
We did get a nice retracement to $15342 and an unexpected bounce reaching to take out the newly created Hourly highs.
What was I expecting you ask?
Well it was a bit ambitious since I wanted to take out the highs and target the lows right away, LOL.
But this can happen all depending on the Dollar strength or weakness for that matter.
Momentum should carry price at least above $15507 with potential to target 15561 depending on PA (price action) ay considerable rejection at these levels I expect to see price return t $15359.
Keep your eyes on the Dollar
As expected due to the strength of a weak dollar 😉 NQ broke the Highs it had stablished on the Hourly timeframe a $15432.00.
The one thing we spoke about and speculated we would see today did not become a reality.
We were expecting once the highs were breached for price to retrace and possibly target Hourly Lows.
We did get a nice retracement to $15342 and an unexpected bounce reaching to take out the newly created Hourly highs.
What was I expecting you ask?
Well it was a bit ambitious since I wanted to take out the highs and target the lows right away, LOL.
But this can happen all depending on the Dollar strength or weakness for that matter.
Momentum should carry price at least above $15507 with potential to target 15561 depending on PA (price action) ay considerable rejection at these levels I expect to see price return t $15359.
Keep your eyes on the Dollar
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15650 reached