I think we will have a period of strength next and probably see longs start to work .
Today the market found strong buying at the November lows after undercutting briefly .
Ask yourself , if you were bearish would you short here after three weekly bear closes , does the risk reward work here . The answer is no . The situation at least temporarily favors the longs .
The bulls see "opportunity" , things are oversold and they see this as a low risk area to buy their " cheapies " .
The bears on the other hand see this as a good area to take profits and they will probably try to short higher when they see potential weakness resuming and try their best to get a lower high .
I don't know what will happen but I do think those arguments are logical and expecting a tradable bounce next week for longs is a high probability .
* Suggest to be nimble and make sure to take some profits on those longs as it is given, don't expect excess of what the market is making clear for now . Bears will try again probably higher up to make their lower high , so securing at least some profits on near term longs quickly is important .
Today the market found strong buying at the November lows after undercutting briefly .
Ask yourself , if you were bearish would you short here after three weekly bear closes , does the risk reward work here . The answer is no . The situation at least temporarily favors the longs .
The bulls see "opportunity" , things are oversold and they see this as a low risk area to buy their " cheapies " .
The bears on the other hand see this as a good area to take profits and they will probably try to short higher when they see potential weakness resuming and try their best to get a lower high .
I don't know what will happen but I do think those arguments are logical and expecting a tradable bounce next week for longs is a high probability .
* Suggest to be nimble and make sure to take some profits on those longs as it is given, don't expect excess of what the market is making clear for now . Bears will try again probably higher up to make their lower high , so securing at least some profits on near term longs quickly is important .
艾力克~
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艾力克~
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.