This is a continued analysis of my previous post. Check the related ideas. So, apparently, my guess was right. Thursday's Pump and Friday's dump showed a blatant fake out. Reasons why next week is a short: On the weekly, we see bearish pinbar
. On the daily, we see an bearish engulfing
candle. On the 4hr, we see a lot of red. Friday's pump dump established that the long term retracement is complete and shows that a significant downmove in imminent.
Looking at targets of .64 and .625.