Worst case scenario painted out... a real danger to the Infinity and Beyond Projection
Any attempt over the next two days is met with resistance and fails the 4H 55EMA;
then it breaks down below 4320, and takes out the last low to make a lower low... only to go all the way down to 3880, fulfilling the topping pattern at the very least to the downside...
Here in this position, it is clear that intensive work has gone into supporting the entire global recovery.
Moreover, we could already count the resilience in credit as ideal results from the covid siege. But now I want to focus on the US and small caps in particular are getting to work and the advance is leading to a...
Last week I said that DXY will go bearish due to the fact that it was printing the same structure that was printed before. Because of this identical shapes, I mentioned that DXY will fall, repeating the same move that it made before. Unfortunately, we experienced a fake breakout that touched our SL.
It should not yet be dismissed that this move will not unfold....
I was having a discussion with one of my trading buddies today regarding my trade on ATCO, using a strategy I adapted from the great Jesse Livermore using a pyramiding order system along and below a mean using standard deviation and the Andrews Pitchfork method.
Shortly after the covid drop I started to build a position on ATCO after quickly identifying the...
Technicals:
Price is testing the resistance zone, which is also in line with the fibonacci confluence area found. In terms of market structure, prices broke below the market structure and we could see further downside here. Take profit target would be based off the -27% and -61.8% retracement that was taken from the last move.
Fundamentals:
Market risk...
If you have not been paying attention, get ready for some real volatility and big rotations/reversions in the markets.
It is time to put on your BIG BOY/GIRL pants because the markets just exited a simple upside trend bias and entered CHAOS with a new downtrend setting up.
If you don't know what to do, then you better start paying attention. This downtrend...
This is a scenario I don't put too much faith in right now, as the bullish momentum seems completely unabated... but as we all know, markets can be tricky and fast in the face of complacence and leverage... so, in case an "event" (like ark blowing up or something of the likes) could bring spy to retest the early fall breakout 358/353ish making it the BTD...
as long as this "buy the dip" hype continues , this market still can run up for another 15 to 20%.
wait for breakdown & confirmation for bearish confidence.
good luck.
What "global recovery"??... Are "they" serious? - Of course not. But it is entertaining, that much is true.
Going long Game Stop makes a great deal more sense than owning US equities - or any other, for that matter.
(At least a case can be made for he former .)
... and here is one (among many!), reasonably reliable Risk...
this is not what i'm expecting but , if global economy is really going into a severe depression phase , then stock market can run for more unrealistic valuations before it happens.
i don't call this a top but , a sharp drop is likely to happen in 2021 ,
but i don't think it will be something like great recession , great depression , economic collapse etc...
slower but strong recovery can follow that drop too.
the previous forecasts are completed in expanded...
![CLF: [CLF] CLEVELAND CLIFFS INC. BUY SETUP](https://s3.tradingview.com/v/VcoJri51_mid.png "[CLF] CLEVELAND CLIFFS INC. BUY SETUP")
