Retrace Correction then What ???
After letting the market play out we can see a retrace respecting the 61.8 zone and interesting to see the stochastics close to an overbought condition.
Eventually if this is a bulls side of the market, I'd like to see a 100% retrace, but if correction still respects this zone along with stochastics, then I still support a bearish pattern to the down side.
If this is indeed a reversal, where is the convergence pattern to start going up, maybe it's still to early to say.
For those going short, I'd also watch out being that on smaller charts show 100% retrace in smaller cycle patterns.
Right now we are at a cross road, but which side will take it, bears or bulls.
I have yet to see enough data to really say or trade at the moment.
Happy Hunting.
For those trading with me, we know what is really going on.
Eventually if this is a bulls side of the market, I'd like to see a 100% retrace, but if correction still respects this zone along with stochastics, then I still support a bearish pattern to the down side.
If this is indeed a reversal, where is the convergence pattern to start going up, maybe it's still to early to say.
For those going short, I'd also watch out being that on smaller charts show 100% retrace in smaller cycle patterns.
Right now we are at a cross road, but which side will take it, bears or bulls.
I have yet to see enough data to really say or trade at the moment.
Happy Hunting.
For those trading with me, we know what is really going on.
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