Not a Bullish close today. We made a break to the upside, which would have formed a bullish engulfing candle, but made a lower swing high instead and closed under the 8ema. If we close lower next trading day, we'll have to exit this trade.
But notice the yellow comments I added to the chart. See how the previous 2 closes below the 8ema bounced off the 20sma the next trading day? Let's give this a chance to do it again. The thing that's different this time is that the previous 2 times the previous swing high was a new high. This time its a lower swing high. This is a bearish sign.
Bottom line was we stayed in the trade to see if we get a bounce and head back up.
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