Traders and some people are still biased bullish after we broke the long term support trend line , the market is trying to say something follow the trend MA's are curling down price is out of the weekly Ichimoku cloud my next confirmation of a longer term bear market will be if we have a monthly MACD cross ,3 day CMF going negative , weekly RSI going below 40 , Volume is drying up and it only picks up on the sell side, on the flip side people are misleading others to buy the dip if you are a pro you can buy the dip and get out but if you are a retail investor wait for the right moment let the scales tip, Next misleading fact institutions are buying lets be realistic here they are not stupid they have fund managers and TA analysts with vast years of experience and they wont buy in unless there are clear signs of reversal.
I am neither a Pera bull or a Perma bear , I just follow what the trend says. Now as I am doing this full time I'll keep on updating this chart every Sunday as the timing of this correction might change or a particular wave gets invalidated. Shorted my positions at 15500 and 13000.
I am neither a Pera bull or a Perma bear , I just follow what the trend says. Now as I am doing this full time I'll keep on updating this chart every Sunday as the timing of this correction might change or a particular wave gets invalidated. Shorted my positions at 15500 and 13000.
Comment:
Not exact Waves coming down But nailed the bottom got in a long at 4.5 while closing the trade at 6K didnt see so may liquidations pushing the price to 14K. But overall trade was decent.