Hi Traders,
Sorry for the lack of updates recently, missed the short opportunity but did catch some great long trades when BTC hit low 18k (since closed now).
Now we are 39hours away from the FOMC meeting, one should remember - the market does not react per-say to news but will use the news/events to justify price action in either direction. News can be spun in any direction to fit how the MM wish in reality.
We should be looking to jump on shorts in the 19.5-20.3k area. likely to begin slowly falling into the FOMC meeting as traders de-risk.
WHAT TO KNOW
- FED have stated they will be heavy handed in rates to do all they can, inflation still high makes the 100points likely IMO.
- Big players have been selling stocks lately (Blackrock CEO sold alot a week or two ago of his own stock... why?)
- Burry closed all stock positions
- FEDEX publicly prepares for massive drops in revenue/recession.
We must not be tempted into longs because of the daily green wick, by weeks end we will be back to below 17k and falling in all probabilities.
Along with BTC, one can short the numerous alt-coins that have had brief upward trends as they will have liquidity ripped out soon enough.
So,
SHORTING
19.5-20.3k area most likely.
The trade can wait until the FOMC date if you wish to play it safe, nothing wrong with that.
But i do think we will begin to fall into the meeting (prior 24hours).
TP is unknown yet as these should be considered as swing shorts to be held for some duration given we may see 1-2weeks of red or more.
Goodluck,
Asset Mastery
Sorry for the lack of updates recently, missed the short opportunity but did catch some great long trades when BTC hit low 18k (since closed now).
Now we are 39hours away from the FOMC meeting, one should remember - the market does not react per-say to news but will use the news/events to justify price action in either direction. News can be spun in any direction to fit how the MM wish in reality.
We should be looking to jump on shorts in the 19.5-20.3k area. likely to begin slowly falling into the FOMC meeting as traders de-risk.
WHAT TO KNOW
- FED have stated they will be heavy handed in rates to do all they can, inflation still high makes the 100points likely IMO.
- Big players have been selling stocks lately (Blackrock CEO sold alot a week or two ago of his own stock... why?)
- Burry closed all stock positions
- FEDEX publicly prepares for massive drops in revenue/recession.
We must not be tempted into longs because of the daily green wick, by weeks end we will be back to below 17k and falling in all probabilities.
Along with BTC, one can short the numerous alt-coins that have had brief upward trends as they will have liquidity ripped out soon enough.
So,
SHORTING
19.5-20.3k area most likely.
The trade can wait until the FOMC date if you wish to play it safe, nothing wrong with that.
But i do think we will begin to fall into the meeting (prior 24hours).
TP is unknown yet as these should be considered as swing shorts to be held for some duration given we may see 1-2weeks of red or more.
Goodluck,
Asset Mastery
