Here is IBEX35, major index in Spain. As you can see, things are getting uglier and uglier here.
Do not get caught in this enromous momentum lately as you might get your ass kicked.
There's no strategy here as the neckline have not yet been broken, but it will, within the right time.
This strategy is no longer available if the index price reaches around 11500.
***I am not your financial advisor neither I intend to be, please do your own research before risking your money***
Good luck everyone.
It's really soon to forecast, but i might be looking into a HS pullback around 4k, to dump more further on a monthly timeframe.
I closed my short with 5.6% profit, and switched short term long position @6700.
Target short/middle term is 8350 which would close the gap left on March and it would be a perfect spot to add up on shorts.
Linked the idea.
Red line is my stop loss, a close on weekly below would be extremely bearish and i would reasses my countertrade.