Overnight gapped me for a loss, but I was able to quickly get short and ride it to the bottom to get even, then go long at the bottom, but followed it up too closely with a stop, so only a small profit.
The next cycle is Fri-Mon, but most astro events are happening Sun-Mon including a full moon on Monday.
I can't see getting back in with another long position from here. I don't like the way these charts look and I think upside potential from here is limited. In those cases with trend lines, I think price will simply revisit the trend line before heading down and it isn't far to the trendline.
Risk / reward for a long position doesn't look good to me right here. I'm sitting in cash.
I would like nothing more this cycle to fail and we just keep going down. However, I will be patient. If we do rise for a few days, the gun should be loaded for another impulse down next week.
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