L2
First change this morning ( 8:01:43) added two more MMs at two highest supports ( .028 and .027) - now over 15 MMs above .025!
More from another post from RB:
slapno
All the makings of a gap up are here. By gap up, I do NOT mean a "gap"! I hate gaps, because they usually get filled - since I'm long, I hate to see a situation where I know we HAVE to go back down. Gap up means opening above yesterday's close, but NOT above yesterday's high of .035!
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Yesterday afternoon, SCHB and NITE controlled the price AND the area around the price - about 5% in both directions was a vacuum. So there is room to begin above OR below the closing price.
If you take NITE and SCHB away, there are four MMs between yesterday's closing price and yesterday's break-even price.
On the othere hand, there are over a dozen MMs supporting above the .025 price. I expected .025 yesterday as a 50% retracement, but it didn't quite get that low, which is a bullish sign that traders were trying to "make sure" they got in before it spiked back up ( which it did)!
The second time down, it only got to .028, which is a higher low.
I expect the Upper Bollinger band to be the support, and expect another move up, which will turn BOTH Bollinger Bands upward, which really should happen, considering we have broken the downtrend.
As always, "what do I know"?
JMO,
Prof
(Edit)
Another change at 8:58 - one more MM just moved UP at the support.
Fake or real? Only his hairdresser knows for sure!
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