My message to all of you: get some rest please. The price is crunching up towards 7400 (the 8/1 Gann fan line from the recent pivot high). Upon reaching this line, it shall attempt to break above it - in my experience, it most often breaks above and then rejects downwards. This is not a time for one to long or short.
THE BEST PLAY: a move above this 8/1 Gann fan line and failure to establish it as support on a retest, would send it lower and be a good short opportunity.
Please note: the price is now below the red 2/1 of the Gann Fan from the pivot low. Once it is below the red 2/1, longing is a suicide mission. There will be easier and smoother trades, if you just have the self-respect and patience to wait.
There is no guarantee that the price will reach the 8/1 Gann fan line from that pivot high, so if you long, it is likely to dump on you without notice as it is below the red 2/1 of the pivot low, which is a very bearish indication.
This is the time for one to take a seat, and let everyone else sweat. Come back to the market when there are better fluctuations in price. Lower timeframes are 100% chop zone. Enjoy the weekend and take the wife shopping. We come back next week and make big money on in and out scalps.
I will be taking the weekend off and flying to Switzerland - and getting away form all the dummies making noise.
Wise up folks. Just preaching some common sense.
Happy holidays!
THE BEST PLAY: a move above this 8/1 Gann fan line and failure to establish it as support on a retest, would send it lower and be a good short opportunity.
Please note: the price is now below the red 2/1 of the Gann Fan from the pivot low. Once it is below the red 2/1, longing is a suicide mission. There will be easier and smoother trades, if you just have the self-respect and patience to wait.
There is no guarantee that the price will reach the 8/1 Gann fan line from that pivot high, so if you long, it is likely to dump on you without notice as it is below the red 2/1 of the pivot low, which is a very bearish indication.
This is the time for one to take a seat, and let everyone else sweat. Come back to the market when there are better fluctuations in price. Lower timeframes are 100% chop zone. Enjoy the weekend and take the wife shopping. We come back next week and make big money on in and out scalps.
I will be taking the weekend off and flying to Switzerland - and getting away form all the dummies making noise.
Wise up folks. Just preaching some common sense.
Happy holidays!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.