Going short for a few weeks.. I'm hoping for the orange line, as it would allow me to drop my longs from 1.287 without having to hedge. Teal line also possible but really hoping for the orange.. :)
Please note the following:
We are in a down trend lasting at least until July 23rd..to Aug12-13 as a end date
If we bounce now for a 50-61% retracement the end date for this down move will be Aug12-13, if we blow past the 1.28 level the end date for this down move is about July 23rd.
My advice if you are long from 1.287 like myself is hedge for the down move add to long around the 1.251 - 1.247 level.
Please note the following:
We are in a down trend lasting at least until July 23rd..to Aug12-13 as a end date
If we bounce now for a 50-61% retracement the end date for this down move will be Aug12-13, if we blow past the 1.28 level the end date for this down move is about July 23rd.
My advice if you are long from 1.287 like myself is hedge for the down move add to long around the 1.251 - 1.247 level.
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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.