We are seeing an upward correction and have reached the MA and the top from 2 days ago again.
The momentum is declining. That's clear - it is a correction.
But as we are in a downtrend since August the preferred direction remains downward.
The momentum is declining. That's clear - it is a correction.
But as we are in a downtrend since August the preferred direction remains downward.
Trade closed manually
I turned the position into long. As the overall markets rose after opening lower I expect a test of the Fibonacci retracment of the decline since Wednesday now.Trade closed: target reached
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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.