What a predictable day! Yesterday we have a trading plan and we had our short order fill in this morning when the market almost hit the 200 days moving average at 1105. Not a bad day for 16 points gain when market closed down 16 points from the daily high 1105.91 to daily low 1089.03.
Again and Again, today another attempt to break through 200 days moving average. What next after another retract from 200 days moving average? Now the market tested resistance 1110 three times and support 1040 three times. None of these can break out. We still waiting a confirmation from the market. As long as the market stays within 1041-1110, I will not suggest holding position overnight. It just too risky because the market is totally control by the news in this trading range.
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