Hi there,
This was a very unclear price movement. A lot of pressure is in the (B) high, which is 107.08, but as long as the current price doesn't breach the 116.62 area, we should expect to see an overall bearish sentiment. We have waves within waves leading to Zone 1 and Zone 2, with two potential directional biases.
But for now, the direction favors bears as long as there is no breach of 116.62 again; therefore, we need to see a lower high breaking 93.77 clearly before considering going in the short side.
Happy Trading,
K.
This was a very unclear price movement. A lot of pressure is in the (B) high, which is 107.08, but as long as the current price doesn't breach the 116.62 area, we should expect to see an overall bearish sentiment. We have waves within waves leading to Zone 1 and Zone 2, with two potential directional biases.
But for now, the direction favors bears as long as there is no breach of 116.62 again; therefore, we need to see a lower high breaking 93.77 clearly before considering going in the short side.
Happy Trading,
K.
Order cancelled:
We are getting old on waiting here