Yesterday’s Events

Morning Dynamic Traders.

Yesterday we had a big drop in price very early in the day. Today we are met with a green candle. This can still change to a red candle, but being in this trade, I would want to know why it’s green and is this the beginning of an up trend.

On the daily chart the signs we were given about the change was convergence from the MACD, and the RSI has shown a change indirection, but it is still in the under brought area.

When I looked at the hour chart it is very obvious to see a triple bottom. This could explain why price has strengthened, but it isn’t enough to confirm whether price will continue to drop or begin to climb.













This is a case of being patient, and wait and see where the price goes. What is happening in this chart especially the events of yesterday and what price is doing now, shows how important it is to manage trades when price starts to get a bit confused.

Look forward to updating you on todays events tomorrow.

Happy Trading