My followers know what i expect next. For more info please read my previous charts, they include many MANY updates with insights/theories and sometimes some education.
Summary, i went short at 11600 and closed at 8500 a few days ago expecting another wave up towards 10K, at 9830 i shorted it again and i added at 9330, i closed more than half at the lows today. i intend to add again IF it gets towards the 8500/8600. Ideally we even see the former big support at 8750 again. But i think the market is to weak to get that high.
At the moment i almost predicted what move we would make, i sensed a short covering moment could appear, and it did, but only a 400 point one. Now we have to stay above the 8000 to keep chances bigger that we make a correction towards the 8600. 8200 is the resistance for now, 8300 is the bigger one.
-Charts are not a picture, they tell a story, listen to it, don't raise your voice above it-
I still think they will make another attempt, that's the reason i went long, because price was at an ideal spot were the risk is less than 100 points and the reward could be 5 to 10 times. Otherwise i would not make this countertrend trade
I have the first 20% at 8520. i will build up towards 8800. Think they will make this move bigger and longer in time i think
Doubt this is it man. C has one more leg up imo 8750ish. Just hope the bulls aren't right and this is wave 3 off the bottom. I'm a bull but I see this as ABC as well just in a different count and am looking for 7200 bottom for takeoff so really hoping you get your short in.
AND, we are exactly at the breakout level of the big bear flag, were price flagged with 8600 at the low. That is a very big resistance.
That's why i only have 40% in, so IF we go a bit higher it would still be according to my plan. IF not, i will probably add when we drop