I don't care for being in the market during FOMC minutes, but once the dust settles a directional move can unfold.
I should have stayed more focused (patient) with the higher time frame unfolding. Bear flag (channel) breakdown was fairly straight forward if you can ignore the noise.
The 65-min showing 2c-2d still, which would mean caution once we saw the 15min turn 3a criteria, while a long entry could form with the 3d criteria, but this will take time as the 15-min works off the bearish momentum (unless we have a V-bottom squeeze).
The 65-min showing 2c-2d still, which would mean caution once we saw the 15min turn 3a criteria, while a long entry could form with the 3d criteria, but this will take time as the 15-min works off the bearish momentum (unless we have a V-bottom squeeze).
A pullback from here is just that. The momentum built up by this January move would take extreme momentum or a lengthy period of time to do real damage to it and create (higher time frame) sell setups.
Daily on the right in the chart below; that's a lot of bullish momentum that was formed this year. So, we would be looking to buy the 2c-2d criteria going forward (in the same way I've been highlighting this criteria on the 65-min chart above.
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