Back up testing 50% of the last leg lower
As per the last post, the buyers need to prove they can take back control. We are up testing the 50% at 1.21566. Can they take the price above or is the correction a time to sell again? That is the trade., but risk is defined and limited.
You have to win a battle to start to win the war. If you cannot, you push ahead, but then retreat because you get smacked again. The correction higher is a push against the sellers. Do they punch the sellers in the mouth? Do they hurt them? That is what has to happen.
