Trend continuation.
Price can either move up right away or retrace before resuming upwards - We feel this trade is safer on a retracement into the yellow box at which point we will look for exhausted selling for a buy entry.
Given price is in a general down trend we acknowledge that at the 61.8% fib level it is time to seek a short position and close out long positions.
Price can either move up right away or retrace before resuming upwards - We feel this trade is safer on a retracement into the yellow box at which point we will look for exhausted selling for a buy entry.
Given price is in a general down trend we acknowledge that at the 61.8% fib level it is time to seek a short position and close out long positions.
