Key Findings: Potential turning point. -
I pulled a trend line between Jan and Feb local Highs and matched it with Dec Highs (200 days High), interestingly we today right stopped at that trend line, heres the potential new downtrend that opens up if we claim todays high as local high.
According to sine wave theory the downside will very probable getting stronger from this point on.
Fundamental developments can lead to strong volatility. I am suggesting trading careful and defensive in this environment.
I pulled a trend line between Jan and Feb local Highs and matched it with Dec Highs (200 days High), interestingly we today right stopped at that trend line, heres the potential new downtrend that opens up if we claim todays high as local high.
According to sine wave theory the downside will very probable getting stronger from this point on.
Fundamental developments can lead to strong volatility. I am suggesting trading careful and defensive in this environment.
Comment:
Worked out as expected! Much Volatility due to fundemental stressors, but we trurned down as expected. We are currently right at trend support, expect a little bounce here.