Big Picture
- We have a large downtrend which is intact
- We are close to the trendline and have to see if we are able to break the downtrend
- Are the lows of the year in?
- Makes zero sense to think about this. Do not listen to the media. Let MGI guide you.
Middle picture
- We see an uptrend which is not very dynamic. Balance areas overlap.
- Nice balance area from the last 8 days
- The destination trade worked perfectly from excess at the bottom to the top
- I ignore the two holidays. I see todays open as a test of wednesday low
- We opened below wednesday low
- The first minutes looked like we reject lower prices
- But we quickly ran out of steem and fell the rest of the day
- You can formally call it a trend day. But for a gamechanging trendday down this is not enough range and not enough volume
- We have two days left for this month. I try to stay neutral
A thought that came to my mind tonight: