🖼 Daily Technical Picture 📈
➤ Since my last update almost one week ago, prices have continued to move lower (and against me). The thrust down have decelerated as prices entered the tentative support zone mentioned previously. VIX has remained range bound as a result.
➤ I still hold the opinion that prices will chop up and down around these levels. We may see spikes up and down as the choppy conditions may remain volatile. This is the scenario that played out in mid-May 2022.
➤ I added long DAX and EUSTX50 positions to the existing long exposure to US indices. My long exposure has increased to +120%. This is a moderate to high conviction level. The maximum exposure is +/- 200%, the level of highest conviction.
➤ Conclusion: I've returned back from the holidays and back on the trading desk. I am looking for a reversal higher in equities. This move maybe bumpy as prices are in the chop zone.
NB: If people are looking for a 5 wave bullish count using Elliott Wave Theory from the June bottom, this can now be discounted. Wave 4 has overlapped with the Wave 1 high.
➤ Since my last update almost one week ago, prices have continued to move lower (and against me). The thrust down have decelerated as prices entered the tentative support zone mentioned previously. VIX has remained range bound as a result.
➤ I still hold the opinion that prices will chop up and down around these levels. We may see spikes up and down as the choppy conditions may remain volatile. This is the scenario that played out in mid-May 2022.
➤ I added long DAX and EUSTX50 positions to the existing long exposure to US indices. My long exposure has increased to +120%. This is a moderate to high conviction level. The maximum exposure is +/- 200%, the level of highest conviction.
➤ Conclusion: I've returned back from the holidays and back on the trading desk. I am looking for a reversal higher in equities. This move maybe bumpy as prices are in the chop zone.
NB: If people are looking for a 5 wave bullish count using Elliott Wave Theory from the June bottom, this can now be discounted. Wave 4 has overlapped with the Wave 1 high.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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.