Don't want to fall into bull trap, but also not into bear. I'd go with another short at least to 75.00, but the greatest question is from where.
CJ dropped almost 13%, so it has some space to bring things in. It might encourage bulls here at current level and then stab them in the back. Will monitor it around 80.60, which corresponds to 0.618 level of the last drop plus full retrace of the last minor rise (blue Fib). For sure I won't be entering on the first touch on 1h, but wait for a signal on higher time frames.
Hope it makes sense :)
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
CJ dropped almost 13%, so it has some space to bring things in. It might encourage bulls here at current level and then stab them in the back. Will monitor it around 80.60, which corresponds to 0.618 level of the last drop plus full retrace of the last minor rise (blue Fib). For sure I won't be entering on the first touch on 1h, but wait for a signal on higher time frames.
Hope it makes sense :)
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Note
Nice h&s is plotting:Note
Soon will start adding longs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.