Good afternoon chaps,
After very fire full discussions on Twitter by lots of people, finally a short view from my side. I'm not posting that much because I'm more a bigger swing trader. Besides all the Goldman-Sachs Bullshit (sorry) it was nothing more than a needed correction where we're still in. RSI was very high, market overbought and we were in the top of a rising wedge that had to breakdown which also happens. That wedge followed after a head-shoulder pattern in my last posts. The bigger picture though, is still bearish. It is what it is. And trading in a bearish sentiment is hard. This bigger picture is still playing out so I expect that course could fall to fib-level 1,272 in a retracement (see chart). The way up, (dotted yellow line) would be very unfamiliar to me. Have a nice weekend, and play good risk management.
After very fire full discussions on Twitter by lots of people, finally a short view from my side. I'm not posting that much because I'm more a bigger swing trader. Besides all the Goldman-Sachs Bullshit (sorry) it was nothing more than a needed correction where we're still in. RSI was very high, market overbought and we were in the top of a rising wedge that had to breakdown which also happens. That wedge followed after a head-shoulder pattern in my last posts. The bigger picture though, is still bearish. It is what it is. And trading in a bearish sentiment is hard. This bigger picture is still playing out so I expect that course could fall to fib-level 1,272 in a retracement (see chart). The way up, (dotted yellow line) would be very unfamiliar to me. Have a nice weekend, and play good risk management.