us500 DANGER ZONE
Updated
You can say danger yes but don't cry out doomsday yet.
We are seeing classic pull back after strong technical rebound. We want to structure a nice W daily and reverse downward trend in place.
Closed below key 1D MAs and trending below Kumo. Lost momentum in h4. Expected retest of 4300 to hope for a trend reversal. But we are far from it.
Good thing is we have to go in RLZ anyway if we want to structure that W and start moving above trend.
In any case this is a place of uncertainty and manage your risk!
We are seeing classic pull back after strong technical rebound. We want to structure a nice W daily and reverse downward trend in place.
Closed below key 1D MAs and trending below Kumo. Lost momentum in h4. Expected retest of 4300 to hope for a trend reversal. But we are far from it.
Good thing is we have to go in RLZ anyway if we want to structure that W and start moving above trend.
In any case this is a place of uncertainty and manage your risk!
Note
Continuation of downtrend towards 1st stop 3670
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