Disliked{quote} We cannot confirm that the up move is over, although I believe it went south opposite to what most of us expected. GJ just tested the .38 filo of the up move . Technically GJ is still in uptrend as long as the TL is intact. It lies near the 50 % fibo 159, 158-80 area. My advise for non aggressive traders to stand aside and wait till the picture is more clear.Ignored
At the start of the week, and as mentioned on Geppy's report, most of us were either long or waiting to get long on the 160.xx area which happened and Prices went up but couldn't go break 38 fibo and went down fast. Most of us were couldn't believe all the fortune made on the way up was vanished and the market shook our belief in Long GJ.
As the hourly chart attached , GJ retraced to the 200 MA above the awaited trend line and then the train left the station heading North.