DislikedNews is what is needed. We're in equilibrium around the 200 MA on the 4 hr waiting for some reason to move in which direction.
Funny thing about news is not what it is or what it's predicted to be, its what the market interprets it to be....
I don't know what the news will be, and more importantly I don't know how it will interpreted, but I do know a definitive break of that 1.2777 38.2% Fib will either be another leg down, or a short lived probe down and then back above it.
My reasoning is I can set a sell order here with a tight stop out...Ignored
So if you don't trust your setup will you adjust your position accordingly?