Price seemed to have found support
yesterday giving us the B swing low we were waiting for. The retracement is
currently just shy of the 618, where we will be looking for signs of resistance
on the 1h chart. A sustained break of 5320 starts a reversal on this time frame.
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Will be going long if:
No long setups at present according to the system. We are in
a downtrend. Stand aside and wait for an entry to present itself.
Will be going short if:
We are looking for a retracement up to the 618/786 for a
short trade setup. A sustained break of 5320 negates this view and opens the
upside.
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