Fib retrace, setup for reversal long term argument for longs

2019年7月12日

The fib level retracement from the double top highs of April and June 2018 indicate resistance at 16.1 area, roughly on par with the fib level there. Also shown is the resistance level at 14 in September - November. It failed to reach that low in May.

If it makes the 0.5 fib level at 15.7, it should continue upward toward 16.1

2019年7月12日

评论

An extended stay between 14.5 and 16 will give more argument to a longer term bull trend forming

2019年7月16日

评论

The first leg of this long has been hit and I've taken some profit, waiting on possible pullback to buy in to second leg to 16.1

2019年7月16日

交易开始

Price Action has not supported an immediate run up, opened a short position until indicators change to determine if it will run up to 16.1.

Short term short target 15.3 down to lower resistance of 14.8

2019年7月17日

评论

Well, that was quick. Currently feeling the burn of the short -- should have stayed true to what was originally mapped out here