No Other Way But Down Now. Weekly Trades (7)

A long time expected break down through the $750 level finally happened a few days ago and there is technical potential for the price to attack at least $500 near-term maybe $400 mid-term. The price gets slowly into a very strong support zone created by two support trendlines just above $500 and this strong psychological barrier itself, though $380 appears to be much more important level.

If you’re not in a short position yet you can open it right now and up to $750. To stick to my trading system you can also open some short below $666 with stop-loss at $723. First possible profit take at $625, second one at $580. I am not interested in opening a long trade, though if you really want to then enter above $756 with stop-loss at $720 and profit take at $780-90. This week looks as one of those easy ones.