Below December 50% level:- bearishBelow Weekly 50% level:- bearish with expectation that any continued down-trend would be towards Weekly lows.
3-day cycles 'Sell'
When we look at this week's price action, the market is drifting lower, but it is being heavily influenced by the 5-day 50% levels, and also the 5-day range lows..
Traders simply have to monitor the trend using the 5-day 50% level in both markets, any further down move would be towards the lower channels, which may or may not support price on Thursday.
Is up to traders to use discretion on whether trading longs around the lows, or if trading longs above the 5-day 50% level.
Posts
