Price action, fib targets have been reached as well...we are looking at an oversold market in relation to the timeframe I am recieving the information. As well we began to leave long wicks at the bottom showing larger players from higher timeframes might start considering this move down as a retracement since this move down today places it at a bargain for higher timeframes and we can be also experiencing some profit taking from todays push down. So as a trader I always reduce my risk in any trade when possible as long as it goes with the charts. Of course price might drop much further, but as I trader I only react to the current orderflow in the market.
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