US markets:- Expectation of a lower Weekly close this week.However, after Wednesday's continuted sell-off, the expectation that price would 'naturally' try and rotate upwards before heading down on Friday......
The rotation upwards on Thursday didn't evenutate but was an inside day, if the market is going to close lower on Friday (lower Weekly close), then price should swing up into the 5-day 50% levels and reverse back down...Resistance 5-day 50% levels in both markets.
Note: if Friday's 50% level is breached, it can often move upwards to the previous 5-day 50% level (Thursdays) before heading lower.
No high probability patterns for position traders, that occured on Monday's sell-off and continued break-down on Wednesday.
Friday is for day traders.
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