Hey, I ain't a-scared to take a little ride back to the 20 EMA (I see I missed another one while I was slacking off.)
There are three distinct flavors to chew on (or lines to contend with). Pretty much the same chart I posted in the past with a slight twist.
Hmm , did not retrace from 87.20 to 87.40 level Seems I need to settle 87.00 level short to position for tomorrow 85 level
Or we could meander for the next few days like in August before resuming. At that time, we also hit a significant trendo.
The move was too strong. I was looking for a bigger retrace, too, but when the PA is weaker than doo-doo, I recommend taking the position wherever it's signaled, because a strong move doesn't always pull back to a particular level. I watch the 1-min chart in a strong move. Look at the LH's (12:55 and 12:59pm ET) after the internal twin top (87.32 at 12:48 and 12:49 ET). Short a break of 87.16, max stop @ .29, targeting a breakout of 87.08.