Since my last post, Hsi did crawl up but was rejected strongly from 18400 and is back in the value area around 17500.
The way it is shaping up, i suspect that a strong shakeout is coming up in next few days in which HSI can drop all the way to 16k. If that happens, it will present a very good opportunity to get Long at the start of a possible multi month move UP.
To ride the fakeout, you can sell around 18k with SL above 15th Nov High. There is also a good chance that no fakeout happens and the move simply speeds up from here so manage your risk properly.
The way it is shaping up, i suspect that a strong shakeout is coming up in next few days in which HSI can drop all the way to 16k. If that happens, it will present a very good opportunity to get Long at the start of a possible multi month move UP.
To ride the fakeout, you can sell around 18k with SL above 15th Nov High. There is also a good chance that no fakeout happens and the move simply speeds up from here so manage your risk properly.