I said yesterday
"Looking like a smashing tmrw morning as WSA is now below this ledge of 2.63 and looks headed to 2.45 or lower now. Sorry but thats what it looks like." - spot on with the daily call but held up in arvo
I have for weeks been correctly warning of -
- a retrace since 2.85
- that ledge at 2.63 would be smashed down
- the next support is 2.45/2.55 then 2.00
- WSA was 2.35 last time NP was 4.96/4.76 - next targets
We are at this support and today we saw the predicted opening smashdown to 2.47 daily lows and then rebound and held up well after that despite NP dropping away yet again.
Volume is still quite light 1.7M considering not 3-5M yet.
That mountaintop peak of 2.90 of 8 Sept is now creating a cliff face drop away zone after the false dead cat ledge of 2.63 didnt hold as predicted despite holding at low volume there and ignoring the dropping NP.
A red lower bar 1c body 3c wick and 3c tail but a large 10c lower than yesterdays candle, the opening did all the damage and the mid morning short attack 2.50-2.45 came and looks like it failed today.
The shorters are in charge yet again. The positives seem to be games by the shorters to suck us into buying their sells so Im staying out till the bottom is in again with a rising trend.
If 2.45/2.50 doesnt hold then may get back to 2.00 base level yet again.
Looks like the shorts have decided to short this back to 2.00. I cant see 2.45 holding sorry, not with NP dropping like this.
Shorts are now burning us to a crisp.
Lets follow what @kathy100 does as she got the entry and exit spot on! She told us she sold 2.80ish and is waiting for the re-entry 2.00-2.20 I think she said. Smart woman!
Im waiting to let this play out as the shorts are working hard & making a mint.
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