This week is a nightware for a trend trader like me. The choppy price actions made it difficult to hold to a position and I have a numerous positions which were stopped out at +1. Also I still holding three small sell positions which currently still in red.
140 region is really turned into a war zone as both bulls and bears refuse to throw in the towel easily yet. However, since a 650 pip pole has been formed recently. there is a possibility that the current consolidation phase is merely a bear flag formation in progress.
The bears need to break 139.50 resistance level in order for the beast to further ride a roller coaster to 133 region. Below is the daily chart as of 9.20 am Malaysia.
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