Love watching the news while I look at fundamentals.
It's funny listening to the news during the first part of the week calling a possible bottom with a nice rally over 1600 points and then listening to them today trying to find reasons to justify losing most of those gains. Doing the opposite of what they're suggesting typically earns more profits than actually trading based off their ideas.
Following fundamentals would have easily allowed you to anticipate the bounce off MAJOR WEEKLY SUPPORT and a retest of the MAJOR TREND LINE with confirmation seen as a DOUBLE TOP.
Look for 1 of 2 possibilities, BOTH BEARISH.
1) Continued drop tomorrow, hitting TP around 25500 and continuing to range between 27100 and 24700 for an week or two with eventual drop below the next MAJOR TREND LINE.
2) Price continues to drop, blowing throw the first TP (25500) and continuing down through the next MAJOR TREND LINE.
Either way, I am BEARISH. I predict the news will remain optimistic and continue throwing BS excuses at your for why price is dropping. They will continue this until the break of this next MAJOR TREND LINE. Which will be an ABSOLUTE CONFIRMATION THAT WE ARE IN A BEAR MARKET.
Once we break the MAJOR TREND LINE, I anticipated a dump to 21700-23000 before bouncing up to retest/confirm MACRO MARKET REVERSAL around 25000.
Following fundamentals would have easily allowed you to anticipate the bounce off MAJOR WEEKLY SUPPORT and a retest of the MAJOR TREND LINE with confirmation seen as a DOUBLE TOP.
Look for 1 of 2 possibilities, BOTH BEARISH.
1) Continued drop tomorrow, hitting TP around 25500 and continuing to range between 27100 and 24700 for an week or two with eventual drop below the next MAJOR TREND LINE.
2) Price continues to drop, blowing throw the first TP (25500) and continuing down through the next MAJOR TREND LINE.
Either way, I am BEARISH. I predict the news will remain optimistic and continue throwing BS excuses at your for why price is dropping. They will continue this until the break of this next MAJOR TREND LINE. Which will be an ABSOLUTE CONFIRMATION THAT WE ARE IN A BEAR MARKET.
Once we break the MAJOR TREND LINE, I anticipated a dump to 21700-23000 before bouncing up to retest/confirm MACRO MARKET REVERSAL around 25000.
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