Hello Traders,
caused by today’s holiday, the Future is again at focus!
Yesterday, I wrote markets have risen too far, too fast! Today, the consequence was visible.
Market declined sharply, as I wrote before.
The decline just stopped exactly at the 0.618 Retracement and bounced to the upside.
A perfect long setup?
To become waves c=a price need to correct down to 17402 (Future); @ 17299 it will retrace 1.382 of waves a!
It needs a break of the 17600 area to create new bullish momentum and move to 17674.
Right now, it is a kind of „chainsaw“ market.
This is a market, where traders lose money by jump in and out of the trades.
Sideline; wait for a clear setup!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
caused by today’s holiday, the Future is again at focus!
Yesterday, I wrote markets have risen too far, too fast! Today, the consequence was visible.
Market declined sharply, as I wrote before.
The decline just stopped exactly at the 0.618 Retracement and bounced to the upside.
A perfect long setup?
To become waves c=a price need to correct down to 17402 (Future); @ 17299 it will retrace 1.382 of waves a!
It needs a break of the 17600 area to create new bullish momentum and move to 17674.
Right now, it is a kind of „chainsaw“ market.
This is a market, where traders lose money by jump in and out of the trades.
Sideline; wait for a clear setup!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!