The call is to drop 300 points by the 20th of September.
I was waiting for this day to drop below the previous day's low.
As of today by the close we completed a swing :
It took almost 7 months to break above the previous high(2877). The rally started on the 9thFebruay and we broke out on the 27th of August. We used up too much time on the upway to rally after the breakout. So this is the kind of break out what is bought by the small guys and sold by the big guys.
The 7 months rally formed a wedge. Yesterday the euphoria pushed out price from the wedge but today we are back again.
I suspect the wedge is going to break to the downside and it will be a fast and merciless drop: 2600 in 3 weeks.
RSI and TSI is supporting the idea.
I was waiting for this day to drop below the previous day's low.
As of today by the close we completed a swing :
It took almost 7 months to break above the previous high(2877). The rally started on the 9thFebruay and we broke out on the 27th of August. We used up too much time on the upway to rally after the breakout. So this is the kind of break out what is bought by the small guys and sold by the big guys.
The 7 months rally formed a wedge. Yesterday the euphoria pushed out price from the wedge but today we are back again.
I suspect the wedge is going to break to the downside and it will be a fast and merciless drop: 2600 in 3 weeks.
RSI and TSI is supporting the idea.
Comment:
Comment:
Today we arrived to the 50 EMA. This is an important level. Most probably we will bounce for 1-2 days .
We need to understand that with this trade we are going against
Trump simply cannot afford any correction in the market ahead of the elections.
So if you bet the farm at this short trade maybe this is the time to take some profit. You never know when they sell off the gold reserves or print a few billions to push it up to the all time highs in a day ...
We need to understand that with this trade we are going against
Trump simply cannot afford any correction in the market ahead of the elections.
So if you bet the farm at this short trade maybe this is the time to take some profit. You never know when they sell off the gold reserves or print a few billions to push it up to the all time highs in a day ...
Comment:
Once we break below the 50 EMA we will tag the 100 EMA and maybe the 200 SMA.
Comment:
*We need to understand that with this trade we are going against ...
We need to understand in this trade we swim upstream.
We need to understand in this trade we swim upstream.
Comment:
Tagging the 100EMA.
Comment:
Taking profit on the 50% of the position.
Comment:
What a drop. Tmorrow I will close the rest of the position somewhere below the 200 MA ( blue)
Trade closed manually:
Comment:
This is getting interesting.
Comment:
It seems we are going to test 2700 again.
We will have a good trade opportunity here I will post a new idea after market close.
We will have a good trade opportunity here I will post a new idea after market close.
Comment:
Getting close. I will try to buy this at the breakdown.
Comment:
Asia dropped hard in the night.
Comment:
We broke down the previous low. It's getting close to the original target at 2600.
We are near to the apex. I think Powell is not ready for what he will need to face in the following weeks.