Dear traders,
So we bounced off of the 0.5 retracement level and now underway on the up wave. However, we cannot escape this big down trend unless 9200 is broken. Another failure will form a double top which is just terrible.
Now we need to watch this triangle and the 2 resistance levels very very closely.
Be hopeful and stay safe traders!
Kidze
So we bounced off of the 0.5 retracement level and now underway on the up wave. However, we cannot escape this big down trend unless 9200 is broken. Another failure will form a double top which is just terrible.
Now we need to watch this triangle and the 2 resistance levels very very closely.
Be hopeful and stay safe traders!
Kidze
Comment:
Just a reminder, I recommend not to place very tight stop loss. The RMI is still holding good above 50 and SMI has not shown strong downward trend yet. Historically speaking the overall trend will be up if RMI just stays above 50. We might be riding a wave 3. But since the Money Flow is showing weakness in volume I would recommend watching very closely.
Comment:
Also one more thing to note, if this rising wedge is broken, get ready for a massive dump
Also one more thing to note, if this rising wedge is broken, get ready for a massive dump
Comment:
we just bounced off the strong resistance 8700 again, do not panic guys we are still in it. I will update when the rally is certainly over.
Comment:
That was the dip, we are still on it, i just got into a little bit position at 8655. We will wait and see how much this ride
Comment:
We just bounced off 0.618 fib level, have to see if we could recover here.
Comment:
we have broken several support lines, I recommend shorting now, next target is 7800
Comment:
I am not sure if 8600 will hold. If it does for a long time then we still have that little slither of hope. If it is continuously attacked like this things are not looking good
