I called a top on May 2nd as the buying looked like a trap - which usually acts as a good end of a trend move.
It worked out quite well, but we didn't get a selling momentum, that I expected.
So, contemplating if we are still in 4th and there's another leg up pending, which should be:
1. Bearish scenario - C of X - Y down should take us to new lows
2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k.
It's a tricky position to be in.
Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y.
Ride the leg down and then take a call if it's bottoming out earlier or we are heading down?
For the time being, I have booked all of my shorts and awaiting clarity.
Cheers - All the best!
It worked out quite well, but we didn't get a selling momentum, that I expected.
So, contemplating if we are still in 4th and there's another leg up pending, which should be:
1. Bearish scenario - C of X - Y down should take us to new lows
2. Bullish Scenario - 1 of 5 (weekly) - We should have a 2 and then head up in waves 3 and 5 to 27-30k.
It's a tricky position to be in.
Plan: Keep position light and let the 5th up complete. In both bullish and bearish scenarios, we'll get a good retracement from there - Min 23500 (in 2) and can go till 21500 - 20500 in Y.
Ride the leg down and then take a call if it's bottoming out earlier or we are heading down?
For the time being, I have booked all of my shorts and awaiting clarity.
Cheers - All the best!
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.