Ok, that up move thrust which occurred on the 3rd of March was not followed by any continuing price action. The price is still safely below $750. The price hasn’t broken up the major declining trend line. All this is telling me the bears are still in play and don’t want to capitulate any time soon.
But. These days are very dangerous for a short term trading because the market is going nowhere and a reward/risk ratio has decreased rapidly. So either you better damn good know what you’re doing or stay out of this ugly choppy market. Personally I opened a short position at $630 last week and expect fall at least to $560. In what time horizon? I really don’t know.
Sell: 627 Stop-loss: 657 Take Profit: 600; 580; 530
Buy: 657 SL: 627 TP: 675; 700