The (revised) 1987 comparison trend is shown by the dotted channel. The battle is now centered on the bull flag shown in blue. If this flag breaks upwards, then a sustained uptrend is assured. On the other hand, this flag could fail downwards and test the short term uptrend in red.
Neither move would challenge the inverse head and shoulders in pink. However, a break down from the blue flag in blue may also break the red uptrend and test the HnS neckline.
Dealers are VERY long gamma. This implies a directional move in the immediate future. Source: squeezemetrics.com/monitor/dix
BOTTOM LINE:
The market is poised to take full advantage of the inverse HnS or fail that pattern spectacularly. The key is the flag in blue. By waiting for the flag to breakout, an unbiased trader could ride the resulting move to approx. 12800 or 11600.
DISCLAIMER: THIS IS MY OPINION. THIS IS NOT FINANCIAL ADVICE. TRADING INVOLVES RISK.
Neither move would challenge the inverse head and shoulders in pink. However, a break down from the blue flag in blue may also break the red uptrend and test the HnS neckline.
Dealers are VERY long gamma. This implies a directional move in the immediate future. Source: squeezemetrics.com/monitor/dix
BOTTOM LINE:
The market is poised to take full advantage of the inverse HnS or fail that pattern spectacularly. The key is the flag in blue. By waiting for the flag to breakout, an unbiased trader could ride the resulting move to approx. 12800 or 11600.
DISCLAIMER: THIS IS MY OPINION. THIS IS NOT FINANCIAL ADVICE. TRADING INVOLVES RISK.
Trade active:
Short. Target 11600.
DISCLAIMER: THIS IS MY OPINION. THIS IS NOT FINANCIAL ADVICE. TRADING INVOLVES RISK.
DISCLAIMER: THIS IS MY OPINION. THIS IS NOT FINANCIAL ADVICE. TRADING INVOLVES RISK.
Trade closed: target reached
