2024 Range Bound (Buy Lows, Sell Highs)
2024 is shaping up to be a range bound year. I am not going to try to analyze what will happen years from now. I am taking it year by year.
The last time we had a Doji candle year was in 2015. It even had the same increased volatility and sell off in August. If I see that little double bottom again, I am going long back up into the top of the range. It seems like every time it goes long, it does that silly little double dip first.
I am flat all positions as I don't know the market's intention. Part of me thinks the 33 Secular Bull trend will continue up and another part of me can see a 40% sell off. I will be humble and take it day by day. Until then I will be playing short term on this range.
It seems to me like we are getting ready to bounce up off of the blue 2024 open line.
Same in 2015
The last time we had a Doji candle year was in 2015. It even had the same increased volatility and sell off in August. If I see that little double bottom again, I am going long back up into the top of the range. It seems like every time it goes long, it does that silly little double dip first.
I am flat all positions as I don't know the market's intention. Part of me thinks the 33 Secular Bull trend will continue up and another part of me can see a 40% sell off. I will be humble and take it day by day. Until then I will be playing short term on this range.
It seems to me like we are getting ready to bounce up off of the blue 2024 open line.
Same in 2015
Note
Another interesting idea I see is the August sell off's on both years has a spike in volatility and then goes back to normal. I am not sure if 2024 will repeat.
Note
Well here is the first Rip off of 2024 open price as I expected. Now to close that gap, do a little double dip and then rip back up to the top.
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