no.
we are talking about g-j here. when there's a trend, it is best to re-enter on the same direction and not chasing retracements.
as i said, i believe that IF a retracement is to occur, it will be rather small and most probably limited upwards by that former support trendline (theoretically turned into resistance now). that trendline has been tested 2 times before breakout, so it would seem logical to me NOT to see price going up through it again just for the sake of a .50 or .618 retracement. 208.80 area seems reasonable.
i think the chart is very suggestive. i also put a possible 1-2-3 pattern that might signal the beginning of the retracement.
we are talking about g-j here. when there's a trend, it is best to re-enter on the same direction and not chasing retracements.
as i said, i believe that IF a retracement is to occur, it will be rather small and most probably limited upwards by that former support trendline (theoretically turned into resistance now). that trendline has been tested 2 times before breakout, so it would seem logical to me NOT to see price going up through it again just for the sake of a .50 or .618 retracement. 208.80 area seems reasonable.
i think the chart is very suggestive. i also put a possible 1-2-3 pattern that might signal the beginning of the retracement.
DislikedSo do you think the several Small segmented 50% retracments do not suggest a larger retracement may occur soon? Given that each 50% retracment of each leg on our way down has taken longer and longer to complete itself or is this simply profit taking on friday afternoon? Am I making any sense because I have no clue.
-PipimintIgnored
Nihil Sine Deo.