This could be just a co-incidence – the M15 169 was around the gap close a TL and a pivot level. But it did seem to hold prices below these levels for a large portion of the morning session. I will monitor the significance of this line for PA.
The M15 169 seems to be helping to hold prices down below the gap fill and the buying accelerates when it breaks. It is also spot on as the target for the first bounce after the reversalThis is the M! chart of the same period of PA: it hits the gap fill but doesn’t want to reverse, nor does it want to go higher. This is an example of a vibration around a TL, but it isalos true that the 169 on the M15 seemed to be capping gains.
