Traders betting for a rate cut in may (I've read) But Powell said more clarity is needed. From Fedwatch
Aloha @Buy1Sell2 , Would it be possible to post a pic of your chart at the time of posting, to help show what you see?
So one bar is all it takes for you to say upside momo? That bar closed above previous 5min high but not the one before that.
It can be just one bar. It depends on what the activity was that leads up to the br. In this case, a new low was made and then a snap up. That's good enough for me to call it fresh upside momentum.
In my view, the key though is that when signals are wrong or misread, it's imperative to get out quickly and reset.