We can see that this is a perfect retracement on 50% fib level as to have another move back to 1450 or even lower level. Remember no liquidation or cash flows gonna attract investors inside the market as COVID tensions still remain the same or even worsen around the world. Newly UK and Australia has came into the major list of Pandemic. So I believe investors will look up for more better lowered price like 1430 or 1360. I have already entered into shorts from 1580 and running in a huge profits. patience kills the pips for sure. Good Luck!
@north01, Yeah mate techs didnt worked this time, major key resistances has broken like shit. But we managed to cover up 350 Pips on shorting too.. Haha. Is everything good on your side?
kelvin29
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do you think the corona has anything to do with this?
Profitlio_Trading
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@kelvin29, Of course it does, Earlier it became the rival for gold and btc and after the market crash the story is different. As an investor no point of investing on assets while the whole world suffers. All this rally came in after liquidation. Still investors are under fear of COVID this woull continue upto August this year.
kelvin29
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@traderchamp_, ya, corona causes the recession and the recession itself is a whole diff case from the pandemic, which is corona itself, recession normally causes prices to fall, but pandemic usually causes price to shoot up, thats my confusion regarding this whole case.(excuse my poor english)
Profitlio_Trading
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@kelvin29, While considering the tech 200 EMA hold price for now from breaking through. I believe its gonna be the resistance. We'' able to see back more downside with this retracement it happened. Lets see how the market's going to play out.