Check out two (or, three) possibilities for short term:
1- reaching fib 0.6-0.8 which could be great to go short.
2- going down on the purple trend line, and landing on fib 0.26 that could be good for a long position. ( Watch out for going long in these situations.)
(3- there is always a good chance to go sideways, but since the weekend is coming, I doubt it.)
Good luck, and trade wisely. Do your own research!
1- reaching fib 0.6-0.8 which could be great to go short.
2- going down on the purple trend line, and landing on fib 0.26 that could be good for a long position. ( Watch out for going long in these situations.)
(3- there is always a good chance to go sideways, but since the weekend is coming, I doubt it.)
Good luck, and trade wisely. Do your own research!
Trade closed: target reached:
It seems it worked again :)
Although a lot of analyzers are still hoping for this bull continue, I would not make a risk and I look for a strategy to go short just to see how the marker plays here.
8,500 is the fib 100 percent, so I would call it out somewhere between 60 and 80 percent.
There is a big change of reversal at fib 80-90 percent.
Although a lot of analyzers are still hoping for this bull continue, I would not make a risk and I look for a strategy to go short just to see how the marker plays here.
8,500 is the fib 100 percent, so I would call it out somewhere between 60 and 80 percent.
There is a big change of reversal at fib 80-90 percent.
