Sive Morten
Special Consultant to the FPA
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Sive, what is your perspective on it going through 3150 area? Seems like a close above 200 sma and 25x5 warrants pause in trading the confluence area. I am going to trade a small amount with my stop behind 2934 (61.8 fib). Let us know your thoughts though.
Hi Joshnix,
Personally I do not want to enter long. It is obvious that anything could happen, but probabilities suggests retracement and I do not want to struggle with it.
My trading plan - wait clear reversal pattern on daily around 1.2950-1.3130.
Currently to enter short is also not the case, since we do not have reasons for that. I think that when market struggles with daily overbought and creeping to monthly K-resistance better choice is to wait a bit.