The prior Monthly and 15 minute charts showed reason for short bias.
This might help the mid term plan. Shorting this temporary down turn
could turn into a longer term downtrend if an Expanded Flat. If analysis
is wrong even more downside is possible.
Upside to 50% retrace would be target wave C to (x) if analysis is correct then
a big move down!
Using the 13 m.a. on weekly as a guide to go short or long will keep risk reward
ratio attractive.
My bias will switch quickly if Head and Shoulders pattern on 15 minute
chart does not materialize. No way to be sure until triangle break will occur on that chart
This might help the mid term plan. Shorting this temporary down turn
could turn into a longer term downtrend if an Expanded Flat. If analysis
is wrong even more downside is possible.
Upside to 50% retrace would be target wave C to (x) if analysis is correct then
a big move down!
Using the 13 m.a. on weekly as a guide to go short or long will keep risk reward
ratio attractive.
My bias will switch quickly if Head and Shoulders pattern on 15 minute
chart does not materialize. No way to be sure until triangle break will occur on that chart
