Potential Entry
| Item | Description |
|---|---|
| Position | Short @ 4063, 5153 (GoMarkets) |
| Status | Filled |
| Timeline | T2 |
| Confidence of the trade | 60% |
| Initial Target | 45xx, 40xx (rising 16MA |
Technical Analysis
Since the surprise of 4200 resistance breaking in such a spectacular fashion, T2 is bull's game, for now. It definitely surprised me in which the manner it was broken, but this is the first proper retracement of the 6000 sell off so it shouldn't be shocking. 1st position was punished severely but a second position near 220MA / 5000 level would help average cost to 45xx. 220MA seems to hold for now, but question is - when, or will the bear fight back?
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!
