EWG , LONG, if we take back the 50 sma while respecting S2 .
Well the doom and gloom news came out today and net short levels went up 3% to 78% .
The news is that Germany is officially in a recession .
The news is bad , the consensus is that this has to go down .
So, time to long , the temptation is to get long right now but my rules don't allow it , for we are below the 50 sma .
So in the bushes I go, to wait, watch and maybe pounce..... Then probably scare people walking by👹.
That's the plan , I will change my mind if the bears see a win with follow-through and a breakdown of levels, but today we closed green so that's good enough to at least get me interested .
* The net short levels are marked on chart using signposts
* The net short levels are based on IG traders accounts positioning
The news is that Germany is officially in a recession .
The news is bad , the consensus is that this has to go down .
So, time to long , the temptation is to get long right now but my rules don't allow it , for we are below the 50 sma .
So in the bushes I go, to wait, watch and maybe pounce..... Then probably scare people walking by👹.
That's the plan , I will change my mind if the bears see a win with follow-through and a breakdown of levels, but today we closed green so that's good enough to at least get me interested .
* The net short levels are marked on chart using signposts
* The net short levels are based on IG traders accounts positioning
艾力克~