Hi all,
Targets from our last short weren't quite met, however we did get a nice 10%+ short ride from 8.8k.
We've observed a five-wave structure down to create a fifth that hasn't created a lower low, alongside divergence in both RSI and EW oscillator.
A correction target around the 0.382 would take us to 9k, however there is heavy resistance ahead at 8.8k.
Taking a long out at this stage seems a little dangerous to me as impulse down still possible. I'll see if we complete an A wave first and then look for a long in to a C.
Targets from our last short weren't quite met, however we did get a nice 10%+ short ride from 8.8k.
We've observed a five-wave structure down to create a fifth that hasn't created a lower low, alongside divergence in both RSI and EW oscillator.
A correction target around the 0.382 would take us to 9k, however there is heavy resistance ahead at 8.8k.
Taking a long out at this stage seems a little dangerous to me as impulse down still possible. I'll see if we complete an A wave first and then look for a long in to a C.
