Hello everyone. I know it looks very bloody this morning, but I honestly believe looking at the charts here that this does not declare a continuation into the bear trend yet. For some reason I oddly believe that the markets will turn around and go to higher highs above 17.60. To the 17.70-17.90 area. This play again is not set in stone yet, but it should be apparent based on my previous long idea and short idea. What I am seeing is the market making room for larger moves upwards and even if that does not happen in the short term as in today it is still entirely possible. let's say it continues downward today to the trend line and bounces then that's a clear indication we have a serious rally incoming and it's the potential rally I been waiting to see happen in every one of my ideas beforehand. However, if it breaks that trendline and falls below it put in shorts as quick as possible after confirming it's not a fakeout(probably won't fakeout just a heads up). Be prepared.
Comment:
another idea i want to include is the stoch rsi is giving signs of extreme oversold tension. which if unreleased all know would send us up to 17.30-17.50 today alone then expect a correction and then expect it to continue higher. also, the violent selling condition that happened this morning is a violation of code and it happened yesterday at the 17.33 range which sent us down to where we are today at 16.80-17.05. I would say the violence of the bear trend right now is not giving it signs of strength but rather weakness. something worth accounting for when deciding for yourself as obviously these are all my own ideas that you should not base your decisions upon but rather use in accordance with your own observations and others' ideas to form your decision.
Comment:
i hope all of you saw it feel below the support line and killed your longs and shorted it which would have made back for your loss more than likely as it dropped 80 cent down.