📊SHORT MARKET REPORT📊
We are following a downtrend and we have had 5 red candles already. Usually what happens is, in a down trend after every 5 to 7 candles you see a green candle. The next things is in a down trend there are 5 micro waves ... 3 down and 2 up. We are on the first already. Given that, we will see an up move next week probably Tuesday or Wednesday but that's too much of a prediction.
Taking everything into consideration, shorting the market on Monday can be done with some caution. But if we are successful with that and get a red candle, we would need to be very cautious regarding straightforward shorting after that as we would be on the second micro wave of the major downtrend.
Option data suggests that the fall would halt near 17500. If we reach that too fast, some heart wrenching bounce may be seen as put writers would like to defend their positions. In case we breach that, we can cross our hearts and choose to die. I mean massive short covering in put options will happen and more downfall. This move would be unprecedented. I am just discussing the possibilities. So apply caution from tomorrow.
We are following a downtrend and we have had 5 red candles already. Usually what happens is, in a down trend after every 5 to 7 candles you see a green candle. The next things is in a down trend there are 5 micro waves ... 3 down and 2 up. We are on the first already. Given that, we will see an up move next week probably Tuesday or Wednesday but that's too much of a prediction.
Taking everything into consideration, shorting the market on Monday can be done with some caution. But if we are successful with that and get a red candle, we would need to be very cautious regarding straightforward shorting after that as we would be on the second micro wave of the major downtrend.
Option data suggests that the fall would halt near 17500. If we reach that too fast, some heart wrenching bounce may be seen as put writers would like to defend their positions. In case we breach that, we can cross our hearts and choose to die. I mean massive short covering in put options will happen and more downfall. This move would be unprecedented. I am just discussing the possibilities. So apply caution from tomorrow.