Firstly i exited my longs at 2854 for +45 points profit. How the technicals know when to exit always puzzles me. So there must be insiders with the news information, who position themseleves ahead of the news. The price always gives ample clues.
https://twitter.com/...620064739164165
I expected a minor correction of 10-20 points, but it overshot that yesterday. Thanks to news like Turkish Lira, which create market inefficiencies for traders to exploit.
There was some technical damage in the short term. It takes 1-3 days to repair the damage. Then we should resume the ST uptrend to new highs. I am not expecting a continuation buy on Monday because of the technical damage, but some back and forth action to repair the damage. By tuesday or wednesday, we should get a buy signal.
Now if we don't rally and consolidate below friday's lows, then we could be looking at a bearish trend change a la Feb this year. But that's only speculation at this point.
Edited by NAV, 11 August 2018 - 12:26 AM.