Looking for the benchmark index to go up a little more in to the 4hr poi and daily descending trendline resistance before dropping to make new lows.
Mid to end of November should mark the start of a new and more aggressive downwards movement where we could see price reach the 2750 level.
This is a very important level as it represents the 50% from ATHs and the 08/09 financial crisis where we saw unprecedented drops.
Once we reach this level and rebalance the COVID-19 crash, I'd start looking to hedge buys into the market.
Mid to end of November should mark the start of a new and more aggressive downwards movement where we could see price reach the 2750 level.
This is a very important level as it represents the 50% from ATHs and the 08/09 financial crisis where we saw unprecedented drops.
Once we reach this level and rebalance the COVID-19 crash, I'd start looking to hedge buys into the market.
Trade active:
I have entered shorts. We have touched the trendline that has prevented bull case scenarios in 2022 3 times already.
The only thing I'd be weary of is that the holiday season generally tends to be positive, but we know that 2022 is not like other years.
Trade safe traders