Immediate term - Long
Updated
Buyers need to exit but first need to create the stops.
My read on the situation is to expect sharp moves up as MM hunts stops. Bulls will takeover once this H&S is complete.
Will consider making this trade if the price temporarily drops but MFI stays bullish.
Mid-term bearish.
Sincerely, Hard Forky
My read on the situation is to expect sharp moves up as MM hunts stops. Bulls will takeover once this H&S is complete.
Will consider making this trade if the price temporarily drops but MFI stays bullish.
Mid-term bearish.
Sincerely, Hard Forky
Note
6510 buy, 8k sellTrade closed: target reached
Trended as expected but now concerned that it will break the trendline. First stop is 6106 / Fib line but the fact that it did not break up into 6900 means I expect it will go beyond a retracement as people cash out and try to break even - into no-mans land.
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