SC - Robust Support?
已更新
Thoughts
- Currently in a strong support area
- Far from breaking the 1HR trend line (From this we are still bearish)
- In terms of the global fib, hovering around the 0.236 which coincidentally lands on the local 0.383 Fib.
- It is possible that it drops down to test the local 0.236 Fib
- It is also possible that it heads up to test the trend line and the local 0.5 Fib
- In my opinion, I don't generally like hovering around support, this often ends up bearish
- EMA (200 and 50) are far apart, expecting a test of the 50EMA before the test of the trend line
- SC has a lot of work to do before the trend reverses
- But as always, tight stops are required.
- Long - stop loss @ 180
- Short - stop loss @ 235
- Currently in a strong support area
- Far from breaking the 1HR trend line (From this we are still bearish)
- In terms of the global fib, hovering around the 0.236 which coincidentally lands on the local 0.383 Fib.
- It is possible that it drops down to test the local 0.236 Fib
- It is also possible that it heads up to test the trend line and the local 0.5 Fib
- In my opinion, I don't generally like hovering around support, this often ends up bearish
- EMA (200 and 50) are far apart, expecting a test of the 50EMA before the test of the trend line
- SC has a lot of work to do before the trend reverses
- But as always, tight stops are required.
- Long - stop loss @ 180
- Short - stop loss @ 235
評論
Update- Followed the downward movement
- Fell trough the support zone and passed our long trades stop loss
- Heading towards the local 0.236 Fib
- No accumulation taking place so it signals that its heading lower
- Next zones of interest are the 0.236 Fib and the psychological 0.00000100
- A full retrace to 0.00000050 is still possible.
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