NASDAQ RETRACEMENT, THEN AN UPSIDE IMPULSE

Currently the market is bullish. After an impulse movement, a retracement is expected. Monday we expect a retracement to the downside until it reaches the 38,2 % fib level. This is a key level at it forms the right shoulder hence completing the heads and shoulder pattern. it is at this level a nice long position can be taken. Remember we react on how the market moves hence I will be monitoring the pair and will take a nice long position with a good risk to reward ratio if price happens to retrace to this level.