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First of all, apologies for the amount of lines on the graph, but it was hard to tell them "goodbye", because they all are playing their role... in a way...
Second, no position will be taken until we get a clear confirmation.
If we get a good close of today's candle below those two little trend lines , then we could potentially see some more selling tomorrow.
If that's not going to happen and the close will be above those trend lines , then stay sharp, because we could get a little rebound. Now the questions is will that rebound be enough to head for new highs? We don't know. You could try and go LONG, but only with a tight SL. With an SL maybe at around today's lowest point. But that's only for a little LONG.
As always, wait for it, and keep an eye on the price action!
Second, no position will be taken until we get a clear confirmation.
If we get a good close of today's candle below those two little trend lines , then we could potentially see some more selling tomorrow.
If that's not going to happen and the close will be above those trend lines , then stay sharp, because we could get a little rebound. Now the questions is will that rebound be enough to head for new highs? We don't know. You could try and go LONG, but only with a tight SL. With an SL maybe at around today's lowest point. But that's only for a little LONG.
As always, wait for it, and keep an eye on the price action!
