After today's strong USD rally im looking for an ideal setup for a correction and enter short. We see price broke long term trendline support and is testing it, forming first convergence visible on AO oscillator. The ideal retracement would be the 0.61 fib and the long term level of S/R (RED). I will place sell limit orders there. We have also a bearish shark on H4 chart (see below) Regards
*****************DISCLAMER******************************************************************** This is just and idea, not a recommendation to buy or sell. Always do your own analysis before opening a trade. Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action. Any respectful and constructive ideas are welcome (agree or disagree). We all are here to learn sharing ideas, have fun and improve our performance.
Comments
IvanLabrie
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In my opinion it'll cut straight down.
Wave 1 high per neowave here:
FullTimeTrader
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Hello, im expecting just one more leg down, same as SPX 500. Lets see what happens, anyway, this should be a good trade.
Regards
IvanLabrie
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Right, based on your count, this being a 4th's C down?
Wave 1 high per neowave here: