We do have a small TL reversion setup here, but I'm cautious of the 31100 to 31200 given that there was a previous sup/res flip that didn't show signs of becoming res around 30900. This shows price is somewhat bullish causing us the concern over the short term 5m TL which we would need to see a nice break down back test before entry. Trouble is if we're looking on the 30m TF at 31100-31200 as the sup/res flip, I don't think we'll get the 5m back test, and just break down on bearish Vol.
Bullish trade isn't really there so we'll favour a move lower, i'm just not sure on the trigger right now. And considering the US market close, we normally see a Vol spike on the Day 2 play, so entering something today needs to be clear.
Bullish trade isn't really there so we'll favour a move lower, i'm just not sure on the trigger right now. And considering the US market close, we normally see a Vol spike on the Day 2 play, so entering something today needs to be clear.
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