Some more down side to this

It looks like this has another wave down to go before going long again. We could see a long move this week to the top of the bearish channel before completing the move to the daily channel bottom. After that we could see one more big move up to possibly complete this weekly corrective phase. We'll take it one slice at a time - I'm not comfortable with the immediate long as it could turn out to be more of a frustrating sideways move.

I'll update my analysis as price develops so remember to follow to receive them. You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

評論: Well well well would you believe it. lol The long trade would have been wort a punt - never mind this means the short trade may present itself much sooner than I expected.

評論: * oops worth a punt

評論: This may or may not go short from here but it is too risky for my liking. I'll not get involved unless it reaches the channel top and we can see where it's going next.

評論: This may go down from here but I'm not interested in it yet. It may still continue across to the upper channel line. We only take high probability trades and I don't see one yet

評論: This is more like it. Price has moved sideways as expected and still looks short. This could break early next week.

評論: OK I'm looking for a long trade now.