...of the "why bother" range
Earlier I defined the area that defined the market over the last few days. The low was defined by 1.0882-85. The high by 1.0922-247.
The price action today saw a move below the 100 hour MA at the 1.0896 level, and the price scooted to a low of 1.08877. It got close to the the 1.0882-85 area, but could not break.
Now we are back toward the 1.0922--247 area. The high just reached 1.09224. Close again to the extreme.
Why bother? After all, we remain in between the ceiling and floor goal posts (that is a lot of metaphors for you).
Well you can lean against the extremes or look for that break (see prior post).
For the time being, the song remains the same, but it is when the tune changes, and we get a more "up tempo" market (i.e. trending) that the good money is made and lost. We will see what happens, but the buyers are trying to push the bullish envelope.
