Each of last 3 weeks we've sold off after CME open to test lower bound of this parallel channel that has supported price since late October..
This week's selloff includes a convenient backtest of the mid of the whole move (50% retrace of all-time high from lows), which is good place to position long from imho
Will we simply reclaim lower bound of channel and then send to upper bound of channel? Or is this time different?
My money is on upper bound of channel next..
This week's selloff includes a convenient backtest of the mid of the whole move (50% retrace of all-time high from lows), which is good place to position long from imho
Will we simply reclaim lower bound of channel and then send to upper bound of channel? Or is this time different?
My money is on upper bound of channel next..