The price action I outlined in my last post is following my plan. Price came off the highs around $630, down to $600, broke $600, and is now coming back to test the level as resistance. Price action here on the Daily suggests moving down to the lows. The move could be slow and take into October.
Ultimately this is a battle on the weekly between the Tenkan Sen and Kijun Sen there.
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Nope. The bearish move is taking too long and price on the daily has closed above the Kijun Sen. Getting out of the trade at breakeven. Looks like price is going to keep consolidating for a while.