Short Continuation
After a retrace that respects 61.8 zones on multiple time charts, we are now in a little correction area the respects the 38.2 zone trading sideways.
H4 charts has a bearish stochastic trend and M30 chart in an overbought condition, both supporting more down trend from here.
The way the M15 graph is moving reminds me of 5 impulse wave pattern, we had the first initial drop after retrace, and now we have a pattern that goes sideways respecting 38.2 zone with many stochastics in an overbought condition.
If this is indeed a 5 impulse going down, I'd be expecting a very aggressive move soon to the down side.
Happy Hunting.
H4 charts has a bearish stochastic trend and M30 chart in an overbought condition, both supporting more down trend from here.
The way the M15 graph is moving reminds me of 5 impulse wave pattern, we had the first initial drop after retrace, and now we have a pattern that goes sideways respecting 38.2 zone with many stochastics in an overbought condition.
If this is indeed a 5 impulse going down, I'd be expecting a very aggressive move soon to the down side.
Happy Hunting.
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