DESCRIPTION:1. We are in a clear downtrend as price is making lower lows showing the strength of the dominant downtrend. 2. Price then pulls back to support turned resistance and test 38.2% Fib Level. However price is still bullish as weekly candle it is not yet closed.
TRADE PLAN: When price pulls back to broken area it doesn't mean it is ready to jump in. We will be monitoring todays weekly close because it will give us a hint on what to do next, at the moment price it is still bullish, we wait for bearish price action to present itself then react.
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