On most days, Frankfurt sets the high or lows of the day or atleast till you get the start of NY session. In hindsight, you will see that you would have caught the high or low of the day during Frankfurt.
I was expecting it to set the high today, to go till 1320s, but it set the low instead. In my opinion, it opens up another week where we could go lower.
I don't think the current low on 24th June during NY session (on the NY stock market open) is the low where we put in a reversal to start a major upside move. It starts during Frankfurt.
Just go a look back at any major move start, it's high or low is during Frankkfurt or London in most cases. For example, this last leg down started on the US inflation data news on 12th May. Asian started that move, but Frankfurt is the high.
In my opinion, late NY does not set major highs or lows. So, I would be really surprised if this is the low.
