The red channel that we were watching yesterday held. From yesterday’s members’ section:
Note that the nearly horizontal red channel could provide for a quick reversal at present price levels – particularly if CL doesn’t hold at the .618 at 51.72.
USDJPY got an assist, popping back above the top of the pennant pattern (in red, below) it had more than backtested. But, it’s hard to ignore the glaring divergence between USDJPY and ES between Feb 11-16.
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