I called a top on May 2nd as the buying looked like a trap - which usually acts as a good end of a trend move.
It worked out quite well, but we didn't get a selling momentum, that I expected.
So, contemplating if we are still in 4th and there's another leg up pending, which should be:
1. Bearish scenario - C of X - Y down should take us to new lows
2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k.
It's a tricky position to be in.
Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y.
Ride the leg down and then take a call if it's bottoming out earlier or we are heading down?
For the time being, I have booked all of my shorts and awaiting clarity.
Cheers - All the best!
It worked out quite well, but we didn't get a selling momentum, that I expected.
So, contemplating if we are still in 4th and there's another leg up pending, which should be:
1. Bearish scenario - C of X - Y down should take us to new lows
2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k.
It's a tricky position to be in.
Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y.
Ride the leg down and then take a call if it's bottoming out earlier or we are heading down?
For the time being, I have booked all of my shorts and awaiting clarity.
Cheers - All the best!
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.