Mike g,
If you were going to hold positions overnight then today is the day I would hold, and i'm holding.
There is no guarantee that the market is going to reverse down, but I
put this in the Premium report 4 days ago…..2nd Feb
What we also notice is that, during the down trend and which is often the
case, price needs to be trading below the
5-day 50% level... But also a spiral top.
Therefore price needs to break the 5-day 50% level but then have an
87 point upswing over a couple of days (or higher open), so that the
trend continues down.
I have the view of lower prices this month, but we still need to
see confirming patterns to play out before the trend moves lower.
Therefore you would be short trading down from 3451 today (running
stops above the 5-day 50% level 3455)
We broke the 5-day 50% level two days ago, and yesterday and today's higher open completed the R87 swing.
We now have an R87 spiral top along with the rejection of the 5-day 50% level.
With the expectation price is heading down….
But that’s going to depend on US markets and obviously what happens
today.
Today's price action completed the move from yesterday, and today's
short and set-up aligns with my overall view of Price heading down
into February's lows, confirmed with a higher probability pattern....
now let's see how we go ( hold 1 lot overnight), hopefully it will be down around the Weekly lows by sycom.
or maybe Not, but nothing to lose.