Keep an eye on these zones. I anticipate a pullback for the short sell before continuation of the bullish trend to take out the old highs and create a new high. Enter and manage risk properly. Cheers.
Comment
⋅
Still looking for the short opportunity. At the peak on the 1hour timeframe, i see a rejection candle on that resistance.
Thanks for the feedback. I try to take a measured approach in my analysis to provide a realistic perspective.
You're right, my short-term view runs counter to the current bull fever. I think it's sensible to be cautious and take some profits here.
My longer term outlook remains bullish, but in the short run I'm seeing warning signs that suggest the pullback will be due at 1.07921. I think it's healthy for the uptrend when markets take a break and recharge.
I'm curious why you describe my viewpoint as a sobering counterpoint? Do you feel most investors are getting overextended right now?
I respect the bullish sentiment, my short-term bearish call could be off-base. Markets often surprise! But risk management compelled me to share my view.