Hello Traders,
Just an update to my last analysis to help seeing us through the week.
1.You can see my pink trend line has now broken = this means uptrend is OVER (for now and remains incomplete - although it has not completed, as expected we always trade what we see
2.We see the pink uptrend line broken so we bearish SHORT TERM
3.Where it goes?? Well I have marked 2 potential areas (a) the top of the previous ATH that was untested (b) 50% fib retrace of the current uptrend
4.Normally any uptrend has retraced to 50% or 61% before resuming bullish new trend
5.We don't know if a bullish new trend will born after this completes we have to assess price but be aware this is not end of the world market crash which others have you believe!
6.I see this as an excellent buying opportunity at discount at KEY LEVELS
7.Hope this helps, as always please comment and share
8. Chart is deliberately zoomed in to hep you without showing the rest of the noise
Best wishes
Just an update to my last analysis to help seeing us through the week.
1.You can see my pink trend line has now broken = this means uptrend is OVER (for now and remains incomplete - although it has not completed, as expected we always trade what we see
2.We see the pink uptrend line broken so we bearish SHORT TERM
3.Where it goes?? Well I have marked 2 potential areas (a) the top of the previous ATH that was untested (b) 50% fib retrace of the current uptrend
4.Normally any uptrend has retraced to 50% or 61% before resuming bullish new trend
5.We don't know if a bullish new trend will born after this completes we have to assess price but be aware this is not end of the world market crash which others have you believe!
6.I see this as an excellent buying opportunity at discount at KEY LEVELS
7.Hope this helps, as always please comment and share
8. Chart is deliberately zoomed in to hep you without showing the rest of the noise
Best wishes
Trade active:
Please note we were at the bottom of the main Trend line (the white upward sloping one at bottom) only 2 weeks ago so don't think it is not possible for price to go all the way there and its impossible (I'm bringing you perspective and that move does NOT make this bearish market its just a CORRECTION!!) to test that and if it HOLD POW!! its a BUY from me!!!
Trade closed: target reached:
Done!