It remains to be seen how price will behave next week after the one day gap fill on 2013.08.23.
As price nears SP2 there could be an opportunity to short it. However, be very aware that the major trend is still up. The blue channel depicts the frequency bandwidth of price movement. It is near the upper limit of the blue channel.
As a caveat, a nice break above SP2 will pull prices toward ML and even further to SP1.
For now we just observe for potential short opportunity. Keep this in your watchlist.
As price nears SP2 there could be an opportunity to short it. However, be very aware that the major trend is still up. The blue channel depicts the frequency bandwidth of price movement. It is near the upper limit of the blue channel.
As a caveat, a nice break above SP2 will pull prices toward ML and even further to SP1.
For now we just observe for potential short opportunity. Keep this in your watchlist.
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