Bear Continuation Zero Bulls
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Been observing closely lately the movement, a lot of us were thinking that we had hit a bottom to go long, but as we had seen 1.9890 was unbreakable.
Since that time, we have nothing but a continuation to the downside. Using Fibonacci, from the highs @ 2.06 and bottom @ 1.9560, the next approximate target would be around 1.9460.
I'd re-enter close to 1.9740 and ride it downwards another 200-300 pips.
4Hr Stochastics still hasn't hit bottom suggesting more downward trend.
Until signal change, I say short for now.
Happy Hunting.
Since that time, we have nothing but a continuation to the downside. Using Fibonacci, from the highs @ 2.06 and bottom @ 1.9560, the next approximate target would be around 1.9460.
I'd re-enter close to 1.9740 and ride it downwards another 200-300 pips.
4Hr Stochastics still hasn't hit bottom suggesting more downward trend.
Until signal change, I say short for now.
Happy Hunting.
Nota
Right now we have a confirmed downtrend from that choppy consolidation, I wouldn't enter just yet unless you plan on holding over to next week, but for everyone else who are trying to get you last trades in, I would wait for a better entry point, I highly recommend using an oscillator, wait for overbought conditions and trade from there.
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