After today we have moved into a zone that will see a lot of resistance if the price moves up. The rallies will be getting sold but our downtrend will remain support. We should continue to move down into the bottom zone of our current retracement channel. I have been scalping by buying when the price hits our downtrend and selling the rallies which I believe will continue to be a working strategy for tomorrow, possibly Friday.
If the downtrend breaks we are going much lower and I will immediately short on a large price action break.
If the downtrend breaks we are going much lower and I will immediately short on a large price action break.
Comment:
Strategy still working..