Position
| Item | Description |
|---|---|
| Position | Short @ 4063, 5153 (GoMarkets) |
| Status | Filled |
| Timeline | T2 |
| Confidence of the trade | 55% |
| Initial Target | 45xx, 40xx (rising 16MA |
Technical Analysis
Sideway actions is not favorable to bears, multiple tests of 220MA and fast approaching 16MA might turn the resistance brittle soon giving way to more upside. While I don't think this wave from 4000 will go straight to 6000 (in a bull case scenario) without a significant retracement to provide some spring to bounce, it's still a possible scenario.
Some hedge positions are being considered to avoid some mid term bull attacks.
Disclaimer
While we believe in collaboration and working towards a common goal as good thing, it has in the past affected the way we trade so to keep this as consistent and drama free, we will not be replying to comments most of the time to keep this approach as streamlined as possible. You'll certainly see us making comments and upvoting other amazing posts though!
