hengseng when im referring to the test what i mean is:on the...

hengseng when im referring to the test what i mean is:

on the daily we have broken south of the ascending triangle, with added bearishness due to the fact price gaped over the triangle support.

on all triangles and breaks you can be almost certain price retest them before the real move, so when i refer to the test i mean price will most certainly pull back to .034 - .033 area as not only do we need to retest the underbelly of the breakout but we also have the high probability to fill the gap.

and knowing gaps create great support/resistances, and knowing the previous support of the triangle is now going to be resistance then its safe to assume for the short term the play is over.

For me anything between .031 and .038 is "no mans land" as price at best should consolidate here and with that in mind the longer the consolidation the better, meaning when the break comes through .038 then risk should be easy to manage.

tomorrow will be interesting, although I cannot buy now until the high probability play presents its self.

its a real shame as there was no reason for price to sell off and gap over support to trigger a sell, as the fundamentals just improved and the fundamentals alone was enough to initiate the original sell off....

but to assume people are selling down price is nonsense, price is what it is, keep it simple... we have broken south for now, manage risk is all we can do as traders.

good luck to the holders I was even tempted to break a golden rule and avg down instead of selling lol we will see how I fair only on paper.