Yesterday, when I was reviewing the charts, I was looking for buys around 60k for buy entries. But as we saw some FUD enter the markets, the price took an unexpected dive. This in effect altered the structure and gives a little indication of what's to come.
Looking at the structure now, it looks like we will see a retrace of that drop back to around 60k (0.618 fib level), to create the H&S, where I am anticipating a bigger correction of the overall upward move back down below 50k, my guess would be around 48k but could go as deep as 45k.
Let me know your thoughts.
Trade Safe!
HEET
Looking at the structure now, it looks like we will see a retrace of that drop back to around 60k (0.618 fib level), to create the H&S, where I am anticipating a bigger correction of the overall upward move back down below 50k, my guess would be around 48k but could go as deep as 45k.
Let me know your thoughts.
Trade Safe!
HEET
NQ Trader