Very interesting.
So it does want to go down after all. Well, in that case, we'll take a position.
So it tested the trendline and bounced nicely off of it. Made a move higher, probably wiping all Sellers and now it is ready to fall. Probably...
Be careful with this one. That's why the heading has a word "sneaky" in it.
I would recommend to wait for today's close and see where it will close. If this trendline will be something of huge strength, then abort the SELL mission! But if we will get a good confirmation (close below the trendline), then go ahead and place those SHORTs. But, because at the moemnt it is around the trendline still, watch out for those possible sharp moves above it. Just an extra move to wipe out those SELLers with tight stops.
Keep an eye on the price action!
So it does want to go down after all. Well, in that case, we'll take a position.
So it tested the trendline and bounced nicely off of it. Made a move higher, probably wiping all Sellers and now it is ready to fall. Probably...
Be careful with this one. That's why the heading has a word "sneaky" in it.
I would recommend to wait for today's close and see where it will close. If this trendline will be something of huge strength, then abort the SELL mission! But if we will get a good confirmation (close below the trendline), then go ahead and place those SHORTs. But, because at the moemnt it is around the trendline still, watch out for those possible sharp moves above it. Just an extra move to wipe out those SELLers with tight stops.
Keep an eye on the price action!
