We have fallen below the rising banner. What has looked like a confirmation of the bullish sentiment has been cancelled now. I expect a moderate decline from here to find out whether we have stepped into a broader consolidation range or if this is the beginning of a new bears' market.
Trade closed: stop reached
Trade active:
I am long now as we are back in the upward channel.
Trade closed: target reached:
The target of the intermediary long position has been reached. Profit is taken now.
Trade active:
The original position is short now again. We are close to the bottom of the former rising channel again and I expect another test of the downside to see whether this will be a new sideward range or a broader downward correction. I assume the later.
Trade closed: stop reached