That dip to 70400 area was a decent entry for a quick scalp. RSI was oversold on the 15m. Booked 150 pips profit on that one. Always good to see the S2 pivot hold as a short-term support. Still watching for confirmation on a larger move though.
Actually, thinking more about that previous scalp, the volume surge accompanying the move down to S2 was significant. Could be smart money positioning itself before the next leg up, or just a typical liquidity grab as @harrywright41 mentioned. The fact that it bounced so cleanly off that pivot suggests some buyers are present at these levels. If the 70400 area can hold as support for the next few hours, I might consider adding to a small long position I have open, with a tight stop below it. The RSI is still in bearish territory, so caution is key.
