We are seeing an upward correction and have reached the MA and the top from 2 days ago again.
The momentum is declining. That's clear - it is a correction.
But as we are in a downtrend since August the preferred direction remains downward.
The momentum is declining. That's clear - it is a correction.
But as we are in a downtrend since August the preferred direction remains downward.
Trade closed manually:
I turned the position into long. As the overall markets rose after opening lower I expect a test of the Fibonacci retracment of the decline since Wednesday now.
Trade closed: target reached