Price remains between signal levels which remain unchanged. Over 6.65 indicates possibility of something bullish - possibly the start of a motive wave off the lows. Below 6.16 then bearish potential for new lows.
While I remain short, a portion of my position stopped out earlier today. Decline off recent highs has not developed in a clearly impulsive fashion, and bullish potential must be acknowledged, especially if 6.65 signal level gives way. Note positive divergence on MACD. Bullish potential shown in pink.
Chart in log scale.
While I remain short, a portion of my position stopped out earlier today. Decline off recent highs has not developed in a clearly impulsive fashion, and bullish potential must be acknowledged, especially if 6.65 signal level gives way. Note positive divergence on MACD. Bullish potential shown in pink.
Chart in log scale.