Looks like much awaited correction is in the books, however, I do not expect it to be of any extended length. Currently 1240 level looks key, 1238 to 1243 is a buy zone, with 1230 being a stop levels where hedging or outright exit must be considered.
Comment:
Due to yesterday's market reaction that barely scratched our entry zone and reacted we have to go deeper now and our entry zone is spanning from 1231 to 1238 with marginally lower first target, our main goal, however, is to hold for a medium term above 1300.
Trade active:
Trade fate is defending on entry technique, very early entry would be stopped out on the extended push down but a bit of patience and belief would paid off.
Trade closed: target reached
