Each day the red parallel line isn't breached, the higher risk of the price re-testing $100-$150 USD.
Watch this level, nevertheless we're still trading sideways at the moment. A solid break below 1300~1400 CNY is a clear signal of doom ahead.
yup. my whole contingency was three factors -- daily reversal up + weekly reversal up = good long setup, but that trade idea basically produced break even from entry once we had that reversal. Then under 250 invalidated daily and under 240 weekly, so at this point, any retrace should be viewed as a sell until new data comes in to suggest otherwise. really dont see why 230 would hold up again under these conditions.