Last week we finished off trading with a bit of a fireworks display as volatility entered the market over the chain of high impact releases from big group of central banks.
The volatility leading into the weekend has caused some minor gaping, which can be a nuisance to swing traders sometimes.
One setup we were looking at in the War Room was a bearish rejection candle which communicated a resistance level on the daily chart was holding.
Price is a little expanded from the mean so we could definitely see a correctional move here. If the over all ranging structure plays out that’s on the weekly chart, we could see a much further downward movement develop.