Since the previous analysis we have dropped in to that yellow zone, but so far just in a straight line. As mentioned in the previous analysis, first i want to see if we see some kind of pattern gets formed before going long.
Because the pullback from the breakout is already weak, we dropped a bit below the breakout zone (blue zone on the right), i am going to take a more passive approach. First i want to see some kind of bounce up and a retest of support before getting in, like the blue line (which is an example in this case).
As long as we stay in that channel on the right, i won't be doing anything.
Previous analysis:
Because the pullback from the breakout is already weak, we dropped a bit below the breakout zone (blue zone on the right), i am going to take a more passive approach. First i want to see some kind of bounce up and a retest of support before getting in, like the blue line (which is an example in this case).
As long as we stay in that channel on the right, i won't be doing anything.
Previous analysis:
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I am going in with half a size here, looks like a small double bottom. Also because it seems the channel broke downwards, which usually results in a return into the channel.
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Yesterday's small W bottom failed but no real dumping happened yet. There is chance the low is set now, but i am going to wait a bit more. The 1.137ish seems to the level to break to get some confirmation the bulls might be taking over again.