Longterm view: The longterm uptrend is still intact. The actual consolidation seems to be healthy, not exsessive.
- If the market will not break this longterm trend, the possibility is given, that the trend will be assumed an new Highs can be aimed. (blue dotted line) - If the trend breaks and the market is traded below it s 200 ema/sma (mangenta) i exspect a further selloff to it s minimal correction Level (fibo 38,2) @ 1.575. (red arrow)This Level is corresponding to the longterm breakout Level. This should be a strong Support Zone.
The huge Zone between 1.800- 2.100 can be seen as a neutral Zone. IMO here is no cction needed.
Trading possibilities: - Stopp Sell @ 1.800 (trend) / 1750 (ema) with TP 1.575 - Long between 1.800 / 1.950 with TP1: ATH TP2: 2.350
Comments
dionvuletich
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Lol, gosh no... shorted at 2103.9 - final target at 1788.9, put another short on at 1973.6 which is about to get stopped on the second part, and just put another order to short again at 1965.2... I trade patterns so trading the obvious ones
The_Cannalyst
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OK :-) I thought you opened a short Position at the actual Level..so i was a bit confused and irritaed about that :-) Good trades!
dionvuletich
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No no... relax, I trade my own plans... but I agree with your notes above, I have puts on but will cover at the trend line and buy calls and look for major levels to sell for the big one...
dionvuletich
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Jeepers are those guppy multi moving averages... I stopped using them because I could not see the price
I agree with your view though and am short to 1700
The_Cannalyst
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;-) You are already short at the actual Level? Do you have any Triggers/idicators which underlie a short Szenario?