Sell off until Summer 2024. Target 4550 or 4450
My strategy, so far, is playing out.
I think we are facing a three tops buddah and 5190 pips was the head.
We are probably going to sell off until Summer 2024 with a ABC move.
My doubt is where the sell off will finish: 4550 or 4450?
I have bought a short position (X20) at 5170 (SL at 5220) to close the trade in Summer.
Watching next FED meeting to see how many cuts are they thinking.
My guess is that we are selling off until mid July to 4450... but that is early to know (although is my strategy to close the trade and buy a long position to be ready for the next rally).
Crash is not coming... not yet (until the third buddah is completed)
Another thing to justify my theory: KRE. Bank crisis when 43$ is taken out (possible H&S on the daily).
I think we are facing a three tops buddah and 5190 pips was the head.
We are probably going to sell off until Summer 2024 with a ABC move.
My doubt is where the sell off will finish: 4550 or 4450?
I have bought a short position (X20) at 5170 (SL at 5220) to close the trade in Summer.
Watching next FED meeting to see how many cuts are they thinking.
My guess is that we are selling off until mid July to 4450... but that is early to know (although is my strategy to close the trade and buy a long position to be ready for the next rally).
Crash is not coming... not yet (until the third buddah is completed)
Another thing to justify my theory: KRE. Bank crisis when 43$ is taken out (possible H&S on the daily).