Today, Monday April 14th we opened with a gap UP to the 30min 200MA and we also gapped right to the top of the bear gap (always considered resistance and strengthened by the downward momentum of the 30min 200.
We did see resistance with those combined bearish levels and we brought is back down to the middle, closed the gap from open and took it back to the 30min 200MA and got pushed back at close.
This chart setup was bearish today – even though we closed green – how? The 30in 200MA pointing down. The bear gap under that. And the 35EMA trading Under the 30min 200MA.
It was an easy trading day and just looking at the momentum you could feel that price was going to stay in the center of the implied move. At least I mentioned that in last night’s video.
Excellent day. How did you guys do??