Still going Long
Even though we are at a known resistance point, price action still tells going long is still the way to go, let me explain...
After the long run up, we hit the first resistance and pull back to a 61.8 retrace, market recovers after soon after,
even though we see another lower high with a rejection, the market does not pull down enough to make a lower low
still holds up at the 38.2 retrace, and it just been hovering there
long trendline still in play
stochastics also suggest a possible convergence, hiding for more upside
I'd like to think to short, the buy side recovers so much faster than the struggling short side
more signs of upside is showing up more than short side, so trade with caution if you do decide to go short
After the long run up, we hit the first resistance and pull back to a 61.8 retrace, market recovers after soon after,
even though we see another lower high with a rejection, the market does not pull down enough to make a lower low
still holds up at the 38.2 retrace, and it just been hovering there
long trendline still in play
stochastics also suggest a possible convergence, hiding for more upside
I'd like to think to short, the buy side recovers so much faster than the struggling short side
more signs of upside is showing up more than short side, so trade with caution if you do decide to go short
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