Hello traders! We are looking at 2 possible outcomes here. We are at a precise 50% retracement from the last rally and now we wait to see what happens next. We see a breakout of a minor down channel and if we get a retest followed by a break below our zone, the market could possibly go short. The other possible outcome would be a re-entry back in the channel for a bullish move to retest the prior structure. Price action should be monitored for trading opportunities. Traders should react from the market, not predictions. This is not a signal and shoulder not be interpreted as one. This is an idea posted for educational purposes. Trade smart don’t gamble.
-Rum
-Rum
