Hey traders!

Today I was not trading but I took the time to markup the chart. There was a strong drop lower during the overnight. That downward bias developed into a bigger grey downtrend. The trend broke within the green uptrend. After a break prices are retesting the extremes. Prices made a new low and were forming a flatter uptrend. Usually after strong drops or pushes you see a second drop/push of equal size after some shorter-term correction. Prices formed another downtrend into the close. There were a couple of good entries today, especially if you stayed within the down bias. Also, there were a couple of smaller ranges that could be traded.

Hope you had a good trading day.