Trades will be posted below.
Looking for a correction to 6800-6900 area to go long again.
TP 9000 But I can close anytime especially if price struggles at 7500.
Move SL to breakeven at 6900
Move SL to 7000, watching this area up to 7600 carefully for any signs of reversing.
Move SL to 7100
This is not the type of price action I am hoping if I was bullish. But there should be another upmove to around 7550 area, that might be the place I take profits and wait for a correction or signs of reversal.
Area where I would be looking to take profits. If price keeps pushing up through 7800 I will probably look to short.
Move SL to 7200
As long as 7200 holds, I am revising my target to be higher to be above the 7700 up to 8000 area.
Stop taken out, will watch first if this is only a correction or a reversal.
For me technically if everyone's ideas converge, something is wrong and will go wrong. The best ideas are contrarian, if you see many analysts are bullish, you can be sure the top is near and vice versa.
And for this trade, I think the consensus is if we break above 7700 we will turn bullish, and that is probably where you look for shorts.
And yes when many analysts say the same thing is probably because they are all using the same method (mostly breakout method also known as FOMO method to me).