Bullish wild card

Morning folks,

Well, technical picture, no doubts, stands bearish. We've warned you about it within recent few weeks, and since the beginning of 2022 in a scale of monthly and weekly time frames. Now, if we wouldn't have CPI and Fed I would call for short entry. But, due coming important data we need to wait and get more confirmation.

At the same time, CPI and Fed could provide the "wild card" if CPI will be weak and Fed will be dovish. In this case all markets across the board could show short-term action, and it could be more or less strong. That's why we show you all scenarios that potentially you could follow, depending on your view.

First is a bullish "wild card' Scenario. You could consider this butterfly with placing stop just under its lows. Target might be either 17.7, or even XOP target around 18.2K. Features of this trade are - low chances on success, but low potential loss and huge reward if "wild card" will be given.

Second is bears - you need to keep an eye on 16.5-16.6K support and its downside break. Once it will happen, it is possible to consider short entry. Theoretically you could use Stop "Sell" entry order somewhere under 16.5K.

Finally, you could combine both scenarios.... if you brave enough ;)