POTENTIAL SPOT FOR EXIT BEFORE RETRACE : AT Intersection of price with 60Ma fib line and flag T/L
Comments
Fomenka
⋅
the big pinbar does not look like a reversal to you ?
aceofswords
⋅
Yes indeedy it does and did when it appeared, so much so, that this is where I topped up my existing shorts and added!
However throughout yesterday and in fact from late on Tuesday afternoon, I mentioned several times that I wasn't comfortable with how the price action was shaping up. BTW, If you take a look at the chart above on an H4 TF and daily, the bear flag becomes more defined and obvious ;0)
aceofswords
⋅
Looking at PA now, and the PA all day Wednesday, I am more than likely going SHORT at fib or slightly below ;0)
aceofswords
⋅
Good enough for me bro ;0)
I just exited some serious gold positions in profit and look forward to a retrace as stated ;0)
Fomenka
⋅
what do you mean? this does not look like a bear flag.