After a head fake in Jul'15 when it popped 90 the collapse started. Breaking trend line support and getting under 68 we retraced exactly to the 50% fib ($78) and then tanked to 161.8% extension ($55).
The most recent rally so far hasn't managed to get above 78... yet. If I were a gambling man i'm tipping we don't on this run.
I'll be getting short risking Nov'15 highs, targeting a melt down to $46 (gap) and 35 (261.8% fib)
The most recent rally so far hasn't managed to get above 78... yet. If I were a gambling man i'm tipping we don't on this run.
I'll be getting short risking Nov'15 highs, targeting a melt down to $46 (gap) and 35 (261.8% fib)
Trade active:
Short at 73.23. Looking to add if we rally back above $75
Comment:
holding 1 clip at 73.23 and 2 clips at 75.92 expecting a move below 71
Comment:
tried to add at 75 flat with a tight SL but stopped out at 75.70
