Ciao Traders !
Til now I am still long term bearish with a possible target of 1050 or below, at least until proven wrong.
Said that, is very difficult to predict the point of a possible reversal, here is an attempt.
I am personally short with stop loss at break even: I shorted twice: first time at the ,0618 Fib (lower green circle) and took a small profit on 20% of the amount traded, then got stopped at break even for the res of the 80%
Reentered when I saw a reaction just below the 65% Fib (upper green circle) and still in at break even.
If I get stopped I will look for possible reversal patterns around the red rectangles.
I just enter multiple times with basically zero risk (this is because I take profit on the 20% of the position soon and put the rest at break even as mentioned above)
See my below picture for a detailed count of the last wave and, therefore, how I obtained the values to draw the red squares
Happy trading to all !
Disclaimer:
This is not financial or investment advice
I am not a professional in the financial or investment fields
This analysis is just for entertainment purposes
Do not follow what I do or do it at your own risk
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