Update from previous idea:
Fib is actually playing out well, I mentioned yesterday that we really would like to see the 0.5 fib held as support and we have done a decent job doing so. we did see a couple breaks but they were quick wicks down and then back up to the 0.5 level to consolidate.
I also mentioned that I would really like to see the 0.618 or golden pocket held as support worst case and thats exactly what happened, so overall not bearish in the short term I am just hoping for some nice consolidation the rest of today then a volatile Monday is probably on the cards.
currently seem to be hitting resistance at the 0.414 level, I am happy to just bounce between there and the 0.5 until midnight tonight then when the markets fully open, come down catch the CME and breakout to the upside!!
Fib is actually playing out well, I mentioned yesterday that we really would like to see the 0.5 fib held as support and we have done a decent job doing so. we did see a couple breaks but they were quick wicks down and then back up to the 0.5 level to consolidate.
I also mentioned that I would really like to see the 0.618 or golden pocket held as support worst case and thats exactly what happened, so overall not bearish in the short term I am just hoping for some nice consolidation the rest of today then a volatile Monday is probably on the cards.
currently seem to be hitting resistance at the 0.414 level, I am happy to just bounce between there and the 0.5 until midnight tonight then when the markets fully open, come down catch the CME and breakout to the upside!!
