Short

kelmarin

For the past three months, I’ve been closely monitoring the market, anticipating a downturn ever since the formation of the Head and Shoulders (H&S) pattern. As predicted, the market has indeed experienced a decline. A decisive close below the 20,080 level would likely trigger an accelerated sell-off, pushing the market towards the next key support zone around 21,900.

Looking ahead, there’s a strong possibility of a deeper correction, with a potential drop towards the 19,200 range in the coming weeks or months. This correction could present an opportunity for those who are prepared to enter at more favorable levels.

It’s crucial to recognize that the current market environment is a classic trap for speculators. The temptation to jump in and chase market moves, especially during volatile periods, can lead to poor entry points and significant losses. Patience is key; it’s far more advantageous to wait for optimal buying levels rather than succumbing to the urge to act impulsively.

The most prudent approach now is to stay disciplined, avoid chasing rallies, and instead look for solid entry points when the market shows signs of stabilizing. Risk management should be a top priority, and investors should always be prepared for potential volatility and unexpected market movements. In these types of conditions, making informed decisions based on solid technical analysis and market structure is critical, rather than getting swayed by short-term noise or emotions.

The market will offer opportunities in time, but it’s essential to remember that timing and patience often make the difference between success and failure in volatile markets.