I know the turn at the 61.8 has been covered, but I was involved with pots and pans and posting elsewhere that I might have missed the 50% so....
"Great sell when price hit the 61.8% retrace of the fall from yesterday and the Daily M3 at 238.74 - drilling down to the 1min it was a single spinning top that hit and the bearish divergence in 5 min momentum was already warning that it might happen. Also, cable had run into its daily R1 and UJ had already turned at its M3 an hour earlier.
Entry off the 1 min 34ema gave a good 100 pips before price stalled at a 50% retrace of the run up at 237.28 and just below the 5m 200ema.
Sundowner time here - I think I deserve a San Miguel."
Edit: I´m wrong, not seen the sun all day and its been raining cats and dogs so I guess I´d better just call it Quality Control
"Great sell when price hit the 61.8% retrace of the fall from yesterday and the Daily M3 at 238.74 - drilling down to the 1min it was a single spinning top that hit and the bearish divergence in 5 min momentum was already warning that it might happen. Also, cable had run into its daily R1 and UJ had already turned at its M3 an hour earlier.
Entry off the 1 min 34ema gave a good 100 pips before price stalled at a 50% retrace of the run up at 237.28 and just below the 5m 200ema.
Sundowner time here - I think I deserve a San Miguel."
Edit: I´m wrong, not seen the sun all day and its been raining cats and dogs so I guess I´d better just call it Quality Control
Trading Levels with WRBs