The procedure as the last three times. In the media, if this is going to happen than xyz is going to happen. This time it was the Fed guidance on interest rates.
And the Fed did do what they had to do and surprised the market a little bit. We saw an initial sell-off. But on the other hand the Fed said: Guys go on with wathever you want to do within the next 18 months - you don't have to fear anything from us. By the way, they made clear that they won't change anything until Powell leaves his position.
Hence, NAS is still building this massive wedge (see orange line) and it is really interesting to see if the market is going to break above the orange line or if they don't have the balls to do it.
This time I just launched my first short, betting that some market participants going to leave this trade while other may jump in or not. If we break above, I turn bullish again.
Take care.
And the Fed did do what they had to do and surprised the market a little bit. We saw an initial sell-off. But on the other hand the Fed said: Guys go on with wathever you want to do within the next 18 months - you don't have to fear anything from us. By the way, they made clear that they won't change anything until Powell leaves his position.
Hence, NAS is still building this massive wedge (see orange line) and it is really interesting to see if the market is going to break above the orange line or if they don't have the balls to do it.
This time I just launched my first short, betting that some market participants going to leave this trade while other may jump in or not. If we break above, I turn bullish again.
Take care.
Trade active:
Short at 14130 (full position)
Trade closed manually:
I closed the trade around 14,040. By far not what I was looking for.
Comment:
I reopened my short at 14,190. Some negative divergence in the RSI and we are close to the orange line. Let's see if I get trapped.
Trade active
Comment:
Sorry, I didn't update this trade. But as I have written, above the orange line I went bullish. But before I had to realise a loss of 110 points. So, this was not very well done... Next time.
Trade closed: stop reached