Now that the Zig Zag pattern is finished, we can start looking for entry for short positions.
Expecting a retrace either to the 38.2 or 61.8 and back down from there.
For now, don't fall for the impulse traps thinking this is a reversal, I don't see any signs of reversal any where on any graphs at the moment, but do allow the market to play out.
If the chart full traces 100% then I'll believe a reversal has started, but if not, keep going into short position.
Happy Hunting.
Expecting a retrace either to the 38.2 or 61.8 and back down from there.
For now, don't fall for the impulse traps thinking this is a reversal, I don't see any signs of reversal any where on any graphs at the moment, but do allow the market to play out.
If the chart full traces 100% then I'll believe a reversal has started, but if not, keep going into short position.
Happy Hunting.
Note
A little clue, in about 3 or 4 hours, expect an entry for short position for those who use Fib Time
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.