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6385 looks like a good spot if it pulls back
Time to look for long side retrace
Trend lines I put in chart before going to bed just to see what would happen when I woke up. Hit the region and straight down again.
Ouch what a reversal, wake up and stops hit and it reverses.
Moved all stops down to 6872 just in case
It’s a decent area for another intraday short so I’ll hold a bit longer.
Yes, given back quite a bit, anticipated a push lower for a retest but no joy.
Any consolidation above this 50% level I’ll be exiting shorts
No reason to exit short yet as far as I see.
Always looks good in hindsight.
Resistance evident on intraday chart, good 1:1 trade opportunity here.
Still looks quite bearish on the daily chart. Weekly looks like a rising wedge. More downside inevitable.
Where we are now. Not that far off a 50% fib level. image
Power of the 50% Fib Retrace image
MA chart — another
How Low ?? — Posted this on another thread. Take a look....
How Low indeed — image
What caused that big spike. Breakout nicely.