Retrace to What ???
Now that prices hit TP and stochastics in oversold conditions, i'm looking for a retrace first, not reversal, don't get it twisted, we are still in a bear market, but at the same time I will be looking for possible reversals still.
Will be watching prices retrace in hopes the magic zones 61.8 and 76.4 will be respected, if it does, I can expect more short continuation.
This is still correction/consolidation area, don't fall for the buying trap thinking this is time to go Bullish, there is no charts that support that idea. Even though you may be able to play a small buy more here and there, but don't expect much than going short.
Still sitting back and watching the markets play out before trading.
Happy Hunting.
Will be watching prices retrace in hopes the magic zones 61.8 and 76.4 will be respected, if it does, I can expect more short continuation.
This is still correction/consolidation area, don't fall for the buying trap thinking this is time to go Bullish, there is no charts that support that idea. Even though you may be able to play a small buy more here and there, but don't expect much than going short.
Still sitting back and watching the markets play out before trading.
Happy Hunting.
Penafian
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