Hi all,
I was looking over some charts this morning, and noticed a couple interesting points. There seems to be a tad bit of froth in the market for me to want to buy up here, so where would I feel more comfortable buying?
The daily pivot is smack in the middle of 2 single print areas from yesterday. These areas usually provide a good area for S/R, and double that with the daily pivot, and triple that with the 8ema on the 65min chart (also been great support in this move up) I want to be looking to buy around that 80-90 area. That also give about 60-70 points of downward pressure from where the market is right now, giving an excellent opportunity for those who want to take profit to do so and bring price right in line with where I want to buy.
I've been super patient lately in waiting for the right opportunity to buy and it's resulted in some fabulous trades. This is my next hunt that I'm scoping out and figured I'd share.
