35EMA Underneath us, island gap above us, top of the expected move on the day is 529, the top of that bear gap is also 529 and the top of the amply move for tomorrow’s contract is 531. Underneath us we have a lot of moving averages potential support on the day that 50 day moving average the one hour is pointing down that could take us down to the 50 day and underneath that 515. 512 on tomorrow’s contract.
Trade active
I didn't trade this yesterday but look at that beauriful bounce on the 50DMA to close flat!! butterflies and condors would have paid here!! Trade closed: target reached
Let me close this idea and expand on the day. We bounced on the 50DMA after FOMC and then got above the 30min 200MA (which note is now pointing down, above the 1hr 200MA (note its also still down) and above the 35EMA. Those MA's caught us as support and not we have the island gap above us to deal with. I think that the downward facing MA's will pull us a little lower first
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.