My harmonic was too small apparently for last week's markup because it created a bigger one off the weekly for a 140+ drop. So marked it up for this week analysis.
The bearish trendline is major respected thanks to the long wick rejection from the 1.51498 area.
Price even broke through a solid support level at 1.50138 to confirm we are in a downtrend.
Looking for a pullback to 1.50138 or monthly zone in red before continuing further down.
BEAR TPS:
The bearish trendline is major respected thanks to the long wick rejection from the 1.51498 area.
Price even broke through a solid support level at 1.50138 to confirm we are in a downtrend.
Looking for a pullback to 1.50138 or monthly zone in red before continuing further down.
BEAR TPS:
- 1.49906
- 1.49292
If breaks though weekly...
- 1.48805
Comment:
Currently broke through trendline and has now passed the monthly. Awaiting retest to confirm a buy entry near 1.50458
Comment:
And the old saying for trading is: "You can marry a pair, but never its direction."
That is a saying I failed to follow this round, or I would've had bull tps in place just in case it didn't go where I charted. Oh well. Lesson re-learned. Will do better next round.
That is a saying I failed to follow this round, or I would've had bull tps in place just in case it didn't go where I charted. Oh well. Lesson re-learned. Will do better next round.