Price seems to be flagging on a big resistance level & because of this I think there might be another spike up to the AB=CD completion which just happens to be an important area (just look left along solid red line on chart to around 8th Dec 16). I will wait for price to get here (green box/red solid line) and look for a short.
Taking a short right now at market seems too obvious and that makes me uncomfortable.
Prediction would be that many people will sell now and be victims of a stop hunt.
I have highlighted the 2 trading opps I will be looking for. If these dont occur I will redo the analysis and wait for the next opp.
I do not have a crystal ball, so dont take this as trading advice. I am just outlining what I have concluded after my own analysis.
If your strategy says to short from market then follow that as I could be completely wrong.
Taking a short right now at market seems too obvious and that makes me uncomfortable.
Prediction would be that many people will sell now and be victims of a stop hunt.
I have highlighted the 2 trading opps I will be looking for. If these dont occur I will redo the analysis and wait for the next opp.
I do not have a crystal ball, so dont take this as trading advice. I am just outlining what I have concluded after my own analysis.
If your strategy says to short from market then follow that as I could be completely wrong.
Comment:
Stophunt has potentially begun
Comment:
Price has arrived in zone, will now keep an eye on it