13.20SPI following the Weekly trend down (closing on lows).
The r22 high @ 6607 sent the market down into the Weekly 50% levels and 5-day lows @ 6557.
I went long again @ 6558 Stopped (6550).
Once the 5-day lows and Weekly 50% level couldn't hold, market expectation is a random down day, however I didn't expect as much selling, even though the view was for the weekly timeframe to close on it's lows.
Breakout of the 5-day range (6557), Weekly 50% level, and 3-day Sell-cycle
My systems weren't shorting today, so I wasn't short-trading, and the intra-day cycle has been a sell since yesterday. (reason why first long exit was 6604)
There was some support around the December 50% level 6534, and the cycle did turn around.
I entered once price re-tested the cycle low @ 6529 partial exit @ 6539 and ran stops at breakeven, looking for a move back to 6557.
Once price broke the cycle low again @ 6527, it's now in free fall, and expectation that below the December 50% level price is heading back towards the Weekly low...
Full report on Weekend
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