Eia extended the upswing but gravity prevailed.
Now we seem to be headed to the intersection
median downsloper and MLH upsloper.
I will certainly contemplate longs there with
median upsloper as first target and
MLH upsloper as second target.
Please note my bigger stop for the second target.
Trade well and prosper :)
In my last chart I pointed out a point of interest and possible long entry. It seems price has indeed bounced and is now headed north. The median on this hourly chart is a high probability target for me now.
Technically we are still in an uptrend but candles this big are hard to ignore. It looks like the deliberate august run up just turned into a massacre. However i have found an interesting area to watch for possible long entry, or at least for a bump to re enter short.
