WEEKLY:
- rejected the descending trendline (3rd rejection) possible mvnt to the downside.
- anticipating 1-2 more rejections of the 61.8% fib level + trendline before shorting.
- possible spike to the 71%/ 78% fib level before pushing further down
DAILY:
TRADE = INVALID IF:
- daily closure above 61.8% + trendline
- rejected the descending trendline (3rd rejection) possible mvnt to the downside.
- anticipating 1-2 more rejections of the 61.8% fib level + trendline before shorting.
- possible spike to the 71%/ 78% fib level before pushing further down
DAILY:
TRADE = INVALID IF:
- daily closure above 61.8% + trendline