Over the past 2 weeks we have seen some heavy selling in Frasers HTrust after it broke the 0.68 support level that was holding since August last year.
Today, we have even seen it pushed lower to a new multiyear low below the temp 0.64 support.
We can still see more selling pressure below 0.64 now, with short term target to 0.60.
Moving averages are still looking weak with no reversal in sight.
More importantly, we had two Bearish 1GT and 1ET Entry Signals on 27 Oct and 8 Nov 2016 where there are still NO EXITS YET, so weakness can still continue…. (See below for signals from system)
Indicators are still looking WEAK for now, especially if it stays below 0.64 – 0.65… downtrend intact…. Cautious
Tomorrow, I will be welcoming my next batch of students at Precision Trading Intensive program where finally they can get hands-on access to this system after knowing the concept behind, super stoked… J
For illustration purpose only