Higher HIgh after the Double Bottom
This is a follow up to yesterday's discussion about a potential double bottom. We said, IF it makes a higher high, then a bull could consider buying the pull back to the "role reversal" area.
Bulls to buy at support?
The time of day seems right, as NY is set to open soon. We see weekly and monthly pivots that can potentially act as support.. Based on simple price action, its a basic role reversal area. IF there are buyers in the market, they will likely buy here soon.
About The Post
About The Forex Analyst
Wayne McDonell has has been trading forex full time since 2004. He is the Chief Market Strategist for TradersWay.com He is the author of "Strategic and Tactical Forex Trading" and his foreign currency analysis appeared on Bloomberg TV, Wall Street Journal and many others. He is also the founder of FX BOOTCAMP.