Someone is being played big time here. Bulls or Bears?
I received messages of bears and bull laughing at my no trade zone comments. Long now or get rekt the bulls say. Short now or cry later the bears say.
But my question to you bulls and bears is, are you being played?
Here are the facts:
- We are currently making the first clean higher highs and higher lows of this over all bear market. 1 point for the bulls.
- Even tho we are making clean higher highs and lows, we are still in the 5 of September downtrend as we have yet to break out of its .618 FIB. 1 point for the bears.
- We bounced nicely of the .618 FIB of this mini bull run. Meaning we are still in this mini bull run. Which is the first time since the 5 march bear run. 1 point for the bulls.
- We are in what could be a massive . 1 point for the bears.
- When in doubt betting with the overall trend is the safe thing to do. 1 point for the bears.
Interesting indicator to watch:
- on daily is about to cross at these low levels for the first time in this bear run. Which could be extremely . We also have to note that it almost crossed previously, but ended up only touching before a massive bull run. Refer to the hearts.
Some crucial levels:
- Breaking down of 6400/ .618 FIB would break the bull run and would lead to a retest of 6200.
- Breaking up of Blue around 6600. would indicate the break of a lower high trend giving the chance of testing the previous high levels.
- Breaking up .618 FIB and purple would mean that we are crushing the previous bear trend. This would likely lead to a retest of 7400 high.
No trade zone. No confirmation of anything. No lonely trip to liquidation avenue. Bull or bear, don't let yourself get played and tamed.
Feel free to write comments for questions, critics and ideas, follow me on Trading view and twitter for more daily interesting market analysis.
The safest traders would wait for a daily confirmation and retest as support.
1st step indicating a bull trend!
No FOMO. The trade will come to us in time.