Yesterday I was holding my breath and watching for support to hold above $7,400. I urged to wait for final confirmation and not dump just yet.
That confirmation came this morning and now it is time to prepare for $5,000. I have opened a short with that as my target. There should be a lot of support waiting and I do anticipate a bounce.
However I am going to be preparing for a longer term bear marking and I will be viewing that as a dead cat bounce which I will be looking to short.
I wish I had better news but I have to call it how I see it.
Happy trading and best of luck!
That confirmation came this morning and now it is time to prepare for $5,000. I have opened a short with that as my target. There should be a lot of support waiting and I do anticipate a bounce.
However I am going to be preparing for a longer term bear marking and I will be viewing that as a dead cat bounce which I will be looking to short.
I wish I had better news but I have to call it how I see it.
Happy trading and best of luck!
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