It's playing out slightly quicker than anticipated but it's going in the expected direction, minus the fakeout and chop.
On the 45m tf I am looking for one more lower low to touch or break the falling wedge's support.
There could be another fake break out and it could be a big one to trigger shorts before liquidating them with the reversal.
I think a 104,000 target is still in play, for now. I thought it would be on Friday - it still might. I do not think this is the start of a rally to 1,000,000.
There is a high risk of liquidation for those taking long positions thinking 150,000 is imminent. There is always a risk the market doesn't do what I think is going to happen and 69,000 is closer than I realised.
On the 45m tf I am looking for one more lower low to touch or break the falling wedge's support.
There could be another fake break out and it could be a big one to trigger shorts before liquidating them with the reversal.
I think a 104,000 target is still in play, for now. I thought it would be on Friday - it still might. I do not think this is the start of a rally to 1,000,000.
There is a high risk of liquidation for those taking long positions thinking 150,000 is imminent. There is always a risk the market doesn't do what I think is going to happen and 69,000 is closer than I realised.
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Related publications
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.