This is just for the first target, actually.
After that target -which has an 80% chance of being hit- it becomes 50/50. It may pullback to allow for further accumulation, or simply continue higher toward new all-time highs around 150 and beyond.
Right now, I see no point in trying to go short; however, any pullback on an intraday timeframe like the 15m could create a decent opportunity to ride the wave.
Intraday risk is high. Normally, you can expect to pay 20–25 ticks for a decent setup, but due to current volatility, you sometimes need a wider stop of around 35 ticks or more just to stay out of the market noise.
Given the situation, I wouldn’t recommend shorting before 130. I would definitely recommend going long if you can afford the wider stop or find a way to enter with low risk.
If the target is reached, I’ll update the chart to show which downside targets need to be broken to consider a pullback, or to show how the price action is evolving.
Right now, 130 is the key level. It is a major high and it's likely that many participants will take profit there, but nobody knows for sure if it will continue or reverse.
After that target -which has an 80% chance of being hit- it becomes 50/50. It may pullback to allow for further accumulation, or simply continue higher toward new all-time highs around 150 and beyond.
Right now, I see no point in trying to go short; however, any pullback on an intraday timeframe like the 15m could create a decent opportunity to ride the wave.
Intraday risk is high. Normally, you can expect to pay 20–25 ticks for a decent setup, but due to current volatility, you sometimes need a wider stop of around 35 ticks or more just to stay out of the market noise.
Given the situation, I wouldn’t recommend shorting before 130. I would definitely recommend going long if you can afford the wider stop or find a way to enter with low risk.
If the target is reached, I’ll update the chart to show which downside targets need to be broken to consider a pullback, or to show how the price action is evolving.
Right now, 130 is the key level. It is a major high and it's likely that many participants will take profit there, but nobody knows for sure if it will continue or reverse.
Trade active
That was close. Still in play.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.