It's playing out slightly quicker than anticipated but it's going in the expected direction, minus the fakeout and chop.
On the 45m tf I am looking for one more lower low to touch or break the falling wedge's support.
There could be another fake break out and it could be a big one to trigger shorts before liquidating them with the reversal.
I think a 104,000 target is still in play, for now. I thought it would be on Friday - it still might. I do not think this is the start of a rally to 1,000,000.
There is a high risk of liquidation for those taking long positions thinking 150,000 is imminent. There is always a risk the market doesn't do what I think is going to happen and 69,000 is closer than I realised.
On the 45m tf I am looking for one more lower low to touch or break the falling wedge's support.
There could be another fake break out and it could be a big one to trigger shorts before liquidating them with the reversal.
I think a 104,000 target is still in play, for now. I thought it would be on Friday - it still might. I do not think this is the start of a rally to 1,000,000.
There is a high risk of liquidation for those taking long positions thinking 150,000 is imminent. There is always a risk the market doesn't do what I think is going to happen and 69,000 is closer than I realised.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.