The bearish momentum continues to drive the short term trend. With the lower high established around the 31 to 32K area, price structure favors a break of supports. It is within reason to anticipate a test of the 25K low, OR a lower low (24K area) UNTIL price proves otherwise.
Things to watch for this week:
A new sell signal upon the break of the 28,600 level.
The 26 to 24K support zone will be in play upon a new sell signal.
More conservative sell signals can appear within the 32 to 34K resistance zone.
IF the 34K resistance is cleared, a change in momentum may be in progress.
Buy signals in the 24 to 25K range are still highly aggressive and should carry low expectations of follow through.
The buy signal at the moment (off of 29K) is low probability and does not meet the criteria of my swing trade strategy.
Short term market timing is about momentum NOT opinions. Don't react to the fist move, prepare for the second one.
I hope you like my new straight to the point format. Thank you for considering my analysis and I hope you find it helpful.
i like the old format better as it gives great tips especially on psychology and trader's thinking. but still very appreciated. thanks
burakb
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Actually I like the other format more, making comments about market psychology ,etc. regarding your experience is more valuable than weekly potential setups I think.
Marc, thank you for your insights. For me that follow you for past 5 years, new format is like a fast food booth, your old format is like a luxury restaurant. Can eat and kill the hunger in the later but can enjoy the moment in the former format. Best if you keep both if possible, the new format as an executive summary of the old magnificent format.
empathicTruffl72612
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old format is much much better Marc
GABRIELH222
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Hey there ! Thank you as always !!! If I must say, I must admit, that me too I prefer the old format.