Looking for a long trade set up

We've had the predicted correction (see linked chart below) and I'm now looking for a long trade set up. MACD divergence isn't huge at the moment so we may see some more down side to this but watch it with a long bias.

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

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Price has pushed further down and bounced back up - now we start looking for confirmation that price has turned.

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We've had the correction indicated in the snapshot above now I'm looking for a long breakout. I've added a few more ideas to this update because it is possible that we see a deeper pullback to the 61.8 Fib area. Nothing definite, I mention it so we can be aware of that possibility when price reaches the channel top. If we're aware of the possibilities then we can't be surprised by price action.

ความคิดเห็น:

Folks this has gone down to the 61,8 fib without the 2 waves I expected. None the less there has been no trade set ups so no harm done. At this level I'm even more interested in a long trade. If I see a trade set up I'll update my followers

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Well that worked out nicely