Scenario A got busted (as expected) - Now on route to scenario B which is the .618 of the up move (7200-7400ish). Whilst it could bottom and break up here, I think more likely now that we bounce up and then take a final leg down to around 5440.
Will be watching the reaction at the 618 and then how the bounce forms. My standing short positions will close at 7500 (open from 12K) and I'll be looking to take a speculative long from 7250, which I will set stops at BE in case the bounce fails. If it does fail, i'll be looking at around 5500 to get in long again.
Will be watching the reaction at the 618 and then how the bounce forms. My standing short positions will close at 7500 (open from 12K) and I'll be looking to take a speculative long from 7250, which I will set stops at BE in case the bounce fails. If it does fail, i'll be looking at around 5500 to get in long again.
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Still panning out. Maybe we get some flat before a final drop, then more sidewards before price starts increasing again
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