short term trading week starting - 10th feb, page-108

Valen, didn't want to go into to much detail in my previous description as was short for time, but following your post this is a bit more of what I see in MSR ( with the purpose of sharing experience in mind)

IMO Indicators are useless in this instance due to the momentum spike that was present today. All my indicators say buy MSR apart from one. Today was about the phycology of a single candle. Look at a five minute chart and track the individual candles with the cursor. The volume of each will be shown on the bottom toolbar of INC charts. Look at what volume created the up candles and look what volume created the down candles. There is a much larger seller overhead. I didn't see or watch the stack so I don't know but if you then look at an hrly chart with its tripple tweezer top it has the appearance of buyers building and then large volume dumps that tapered off during the day.

Have all the sellers exited? who knows, have the buyers been warned off, who knows. All I know is a lot of people had it on their watchlist to either Buy or sell and that is what played out today. For sure we will find out in the day(s) ahead but for now you have to respect the bias within the intra day action of a single candle and err on the side of caution until the direction is confirmed.

A leading indicator if you want to use one in this instance for direction is the twigs 21 day money flow (TMF-21 day). It has daily swings but will confirm if the buyers or sellers were in control, today the direction was down, this confirms the selling bias mentioned in above description and also by 3500(VSA). This indicator still means nothing until tomorrow confirms further. TMF 21 is however above its signal line (0) and if it forms a higher trough in the next couple of days this will be bullish, If it drops tomorrow and heads towards zero expect shorter term selling pressure to eventuate.

A complete coin toss IMO with the bias on tails tomorrow will prefer to sit on fence and get some splinters in my arse.... so will remain neutral