Unfortunately markets show 6% futures premium and extreme bullish sentiment. Rally ends on a euphoric spike as we approach previous highs. Very similar to the $1000 price point during the $1200 bubble.
Dump fractals suggest 2200 bottom with 1900 capitulation. As such I suggest target should be 2292.
Of course, stop loss should this idea be proven false. At 3022. But I'm rarely wrong. I'm a genius after all.
Dump fractals suggest 2200 bottom with 1900 capitulation. As such I suggest target should be 2292.
Of course, stop loss should this idea be proven false. At 3022. But I'm rarely wrong. I'm a genius after all.
Trade closed: stop reached:
Stopped
Comment:
Price ended up following the pattern and I did end up shorting this. Took some losses from the too-tight stop though.