AMAZING PRICE ACTION (What now?) WC 12/2/24
Dearest Followers,
1.Last week we had an amazing push UP which was expected once the 127 Fib extension level breach Fri 9/2/24 London Session. It does not matter what your TA is, Patterns off the inverse head and shoulders with Fibs are the most powerful method to identify direction.
2.Friday closed just shy of the 161 extension - marked on chart, 18000 is a psychological number, they know everybody is waiting to cash in there a reason not to let it go there and instead showing a down side close fooling everybody to short or sell, they could be closing just for the weekend!!
3.Next week is loaded with US data, expected to be positive but as we know the market does WTF it wants - don't trade of that data please you will be wrecked.
4.My chart shows you downside and upside risk the MACRO uptrend is intact and its timeline is not complete the pink line is the ultimate area before a meaningful 50% retrace (based on history that's all we can go by)
5.The current impulse is equal to the last one this is an area it would retrace but only a bit as indicated, I expect four, 4 hour candles of retrace (should you take the short now but beware it may shoot all the way to 18000 ish before that move occurs.
6.you have to ask yourself do you have the time to be in and out for that move or are you going to wait for a more solid SHOT?
7. ALWAYS ALWAYS remember there is no reason to be bearish this is a very bullish market price action on larger timeframes prove this, if you are denying that you are more foolish than I thought, so if you are going to short you are taking the highest risk which will require much more monitoring to get out quickly, trading with trend will be a much safer bet but only when it's cheap (do you buy things when expensive?)
7. I wish you all the very best next week and if you find my thoughts helpful please do share and comment below I love to read what you think.
8.keep that bias at bay.. just coz its gone nuts does not mean it has to go down! Also vice versa you have to trade what you see at key levels waiting is the best thing to do it will never run away if your Tigeress.. like mine is WATCHING!!
8. Peace!
1.Last week we had an amazing push UP which was expected once the 127 Fib extension level breach Fri 9/2/24 London Session. It does not matter what your TA is, Patterns off the inverse head and shoulders with Fibs are the most powerful method to identify direction.
2.Friday closed just shy of the 161 extension - marked on chart, 18000 is a psychological number, they know everybody is waiting to cash in there a reason not to let it go there and instead showing a down side close fooling everybody to short or sell, they could be closing just for the weekend!!
3.Next week is loaded with US data, expected to be positive but as we know the market does WTF it wants - don't trade of that data please you will be wrecked.
4.My chart shows you downside and upside risk the MACRO uptrend is intact and its timeline is not complete the pink line is the ultimate area before a meaningful 50% retrace (based on history that's all we can go by)
5.The current impulse is equal to the last one this is an area it would retrace but only a bit as indicated, I expect four, 4 hour candles of retrace (should you take the short now but beware it may shoot all the way to 18000 ish before that move occurs.
6.you have to ask yourself do you have the time to be in and out for that move or are you going to wait for a more solid SHOT?
7. ALWAYS ALWAYS remember there is no reason to be bearish this is a very bullish market price action on larger timeframes prove this, if you are denying that you are more foolish than I thought, so if you are going to short you are taking the highest risk which will require much more monitoring to get out quickly, trading with trend will be a much safer bet but only when it's cheap (do you buy things when expensive?)
7. I wish you all the very best next week and if you find my thoughts helpful please do share and comment below I love to read what you think.
8.keep that bias at bay.. just coz its gone nuts does not mean it has to go down! Also vice versa you have to trade what you see at key levels waiting is the best thing to do it will never run away if your Tigeress.. like mine is WATCHING!!
8. Peace!
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