Going to play ETP
long here. It does not look uber bullish
but I think it has one final push up before a retrace. It is sitting on the 61% fib and hit the target of this down leg. So I think we are heading up the way. There is bullish divergence
on the RSI
. Shorts are at an all time high so are due a squeeze. If everybody is short then everyone is right and imo
it is never the majority that is correct otherwise everyone would make money and not just the few.
Zoomed out view with targets.
Being a Zero-Sum game there must be winners and losers. Usually it is not the crowd that wins. Longs vs Shorts. Too many shorts!