YM Bullflag Pull Back Into FOMC Bullish
What I am seeing is a bull flag in a sideways range. It poked above and failed. Most likely pulling back into the half way point. Pulling back getting ready for the FOMC next Wednesday for a, more than likely, bullish FOMC. I believe we have one final push up before the 37% sell off down to 23,000.
I am currently short, notated by the orange line. I admit I got in too early and still am underwater. I am still 100% confident the sell off is around February 20th and will have to endure a bit more upside.
I am currently short, notated by the orange line. I admit I got in too early and still am underwater. I am still 100% confident the sell off is around February 20th and will have to endure a bit more upside.
Comment:
Price is pulling back after a consolidation bull flag. With two MRN (Major Red News) around the corner, I suspect more bullishness. About 3% higher as the last push up. I don't feel comfortable going long in front of news AND with hardly any room to the upside. I will wait for the Longer term sell signal.
