Final Retracement?
Updated
I don't know whether this is final but we have reached the 78 % Fibo retracement level today. If there will be a rebound then it should be now.
Intraday we've made part of the way already but there is a good chance to gain more as the way down has been a long one. The morning gap has been closed already but there is another to be closed at the 24th July.
Perhaps it cannot be achieved as the resisting MAs lay immediately below it.
Anyway, the direction has to be clearified now and an attempt to look for the upside seems to be likely.
Intraday we've made part of the way already but there is a good chance to gain more as the way down has been a long one. The morning gap has been closed already but there is another to be closed at the 24th July.
Perhaps it cannot be achieved as the resisting MAs lay immediately below it.
Anyway, the direction has to be clearified now and an attempt to look for the upside seems to be likely.
Trade closed: target reached
I am taking the profit meanwhile. The markets are creazy at moment and I don't want to have the position open o/n. I intend to re-open it tom perhaps even at a little better price.
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