CPI Squeeze and Dump
Updated
Were getting alot of conflicting information from the FED and the CPI report. Here are some main takeways:
Although inflation is showing signs of peaking, shelter, food, and energy are still major driving factors contributing to inflation which will lead us to higher interest rates.
I posted a play on the breakout from the symmetrical triangle up to the golden pocket fib retracement. This is coincidentally the same spot as the gap around the 15th of Dec.
I am assuming we will pop to fill the gap, before inevitably dumping lower.
Buckle Up..
Although inflation is showing signs of peaking, shelter, food, and energy are still major driving factors contributing to inflation which will lead us to higher interest rates.
I posted a play on the breakout from the symmetrical triangle up to the golden pocket fib retracement. This is coincidentally the same spot as the gap around the 15th of Dec.
I am assuming we will pop to fill the gap, before inevitably dumping lower.
Buckle Up..
Trade active
Still holding a small portion of my longs from beginning of Jan, looking to sell soon and go short.Trade active
Still in a long position, too much good news entering the market and a huge break through resistance.Trade closed manually
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