A punt for the bearsish outcome
Looking at a final rejection of the Bollinger Band centre, around 47.9k-48k. Tight stops here are crucial, if this is indeed a range/bull trap, this trade could prove lucrative and further add to a bearish bias.
DONT bank on it, with the current momentum may push it well up past this stop, but the dance with 48k is what really matters here.
Entering with a small portion as this is more gamble than trade, but worthy risk for it here imo. stoplossSTOPLOSSstoploss
Either way, the outcome of the next 24-48 hours will say alot about the rest of Q4 imo. If 48k is reclaimed and held, that's my bullish flip, if not -- see my deadcat bounce chart.
Goodluck (:
DONT bank on it, with the current momentum may push it well up past this stop, but the dance with 48k is what really matters here.
Entering with a small portion as this is more gamble than trade, but worthy risk for it here imo. stoplossSTOPLOSSstoploss
Either way, the outcome of the next 24-48 hours will say alot about the rest of Q4 imo. If 48k is reclaimed and held, that's my bullish flip, if not -- see my deadcat bounce chart.
Goodluck (:
Note
Short has been entered, lets see what happens on the daily open!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.