Similarities with February 2018 Selloff
It's quite interesting to point out that the selloff of these days seems somehow similar to the February 2018's selloff. The magnitude of the drop is slightly different but, after such a drop, the main trend didn't broke. 50EMA keeps staying above the 200EMA.
October selloff, to me, seems similar. The bounce back is more or less of the same magnitude of the one occurred in February hence I would expect the main trend to keep going and the overall price to reach the actual 50EMA level accounting for an overall loss of around 2%...pretty close to the overall loss accounted for in February.
Just an idea and a possible scenario. It could happen and it was interesting to point it out.
***As usual, not a trading advice of any sort. Merely my idea for informational and educational purposes only***
October selloff, to me, seems similar. The bounce back is more or less of the same magnitude of the one occurred in February hence I would expect the main trend to keep going and the overall price to reach the actual 50EMA level accounting for an overall loss of around 2%...pretty close to the overall loss accounted for in February.
Just an idea and a possible scenario. It could happen and it was interesting to point it out.
***As usual, not a trading advice of any sort. Merely my idea for informational and educational purposes only***
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