Just a short update before the FED decision.
Today we bounced from the green trendline and we broke the descending trendline (blue). It seems we have the perfect setup for a rally.
The last few hours of bounce seems an artificial move to me. It's too simple to end this daily cycle at the trendline.
On the daily chart I was waiting for to tag the 50 EMA and that didn't happen though.
So I'm not buying this bounce yet, but I don't want be get caught in the next rally with the rest of my shorts. We stole a lot of money from the bull from 1368$ even till today.
I'm going to close all of my shorts before the FED decision except a very small position. For that position I'm going to set a stop loss at 1334$. Just to have some skin in the game if we break down the trendline and tag the 50 EMA on the daily chart ....
If the rally is starting now - and after the FED decision - it's going to go above 1400$ so I dont care if I enter 10$ later only.
Today we bounced from the green trendline and we broke the descending trendline (blue). It seems we have the perfect setup for a rally.
The last few hours of bounce seems an artificial move to me. It's too simple to end this daily cycle at the trendline.
On the daily chart I was waiting for to tag the 50 EMA and that didn't happen though.
So I'm not buying this bounce yet, but I don't want be get caught in the next rally with the rest of my shorts. We stole a lot of money from the bull from 1368$ even till today.
I'm going to close all of my shorts before the FED decision except a very small position. For that position I'm going to set a stop loss at 1334$. Just to have some skin in the game if we break down the trendline and tag the 50 EMA on the daily chart ....
If the rally is starting now - and after the FED decision - it's going to go above 1400$ so I dont care if I enter 10$ later only.
Kommentera:
I would have liked to see the 50 EMA tag on the daily chart...
Trade stängt: Stopp nått:
Closed every short position before FOMC.
A small position was stopped at 1334
A small position was stopped at 1334