What we know...
1. Trading under the 25 day EMA for many days now.
2. Lost all gains made since the last correction of 10/9
3. Short-term resistance line still holding. I would begin opening a short position if it gets close to this line.
4. Support from the hammer is approaching. If it closes below this, add to short position.
5. If it closes above 51 it may get back up to 55 so stop loss at 51.50
HAPPY TRADING!
1. Trading under the 25 day EMA for many days now.
2. Lost all gains made since the last correction of 10/9
3. Short-term resistance line still holding. I would begin opening a short position if it gets close to this line.
4. Support from the hammer is approaching. If it closes below this, add to short position.
5. If it closes above 51 it may get back up to 55 so stop loss at 51.50
HAPPY TRADING!