UPDATE: We are well in the money since I last posted this trade 5 days ago. Well done to everyone who followed me and took this short with me. Hold, expecting more downside.
A nice bearish move, we had a bullish pullback into the minor highs, hitting the sideways resistance trend line and hitting the Fibonacci retracement also. We have used the 50MA as resistance, suggesting this is purpose filled agenda move to the lows.
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Best regards, Tom
Comments
waterman
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Hi Tom ! Why are you not giving the inverted H&S pattern in daily , some space to operate ? Thanks !!
TomProTrader
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Could be, could be not! All ideas are valid until they're invalidated :-)
waterman
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Great reply.I! ! really appreciate your openness to other ideas. Thanks !!