This is the dilemma with technical analysis, here we have a situation where we have technicals supporting a move upward and downwards. This situation is very common with technical analysis, in most cases there are technicals supporting both the bulls and the bears and hence making decisions solely based on technicals is 50/50 in most cases.
We have the 50 fib...
I am posting this chart in order to show you how easily you can take profit of the market if you keep the analysis simple.
You don' t need many indicators that could make you confused.
In other words KEEP YOUR CHARTS CLEAN.
Then you would be able to understand in depth what you cant see in a messy chart.
As you can see, first we have a strong bearish move.
So...