Hey traders!

Today we saw a spike up and then a bigger downtrend working lower. During this bigger downtrend there were not too many good short trade possibilities because the signal bars were not good enough or prices pushed strongly above the EMA. Ideally, we would like to see an EMA rejection meaning, whenever prices pull back to the EMA we see a continuation of the move lower. The downtrend broke and prices retested the lows. There could be also a bigger downtrend in play as prices do new lows constantly right now.

Hope you had a good trading day.