This is the point where I got to the chart. I see price created a higher low off of a 38.2 correction which is uncharacteristic with the kind of momentum that was driving price downward. I also see price make another attempt at the 38.2 with an increase in momentum also uncharacteristic considering the bearish bias and strong order flow.
The second is way deeper then expected and with greater momentum indicates bulls are gaining strength and the bears are weakening my expectation is a possible retest of the lows but not a NSL as the bears are weakening fast.
After this assessment to consider a short position, I am now on the sidelines considering a possible order flow rotation and assessing a possibility of long position off of the ABCD that completed.
The second is way deeper then expected and with greater momentum indicates bulls are gaining strength and the bears are weakening my expectation is a possible retest of the lows but not a NSL as the bears are weakening fast.
After this assessment to consider a short position, I am now on the sidelines considering a possible order flow rotation and assessing a possibility of long position off of the ABCD that completed.
If you fail to plan, you plan to fail.