I have just finished my analysis and should these trendlines hold true we will see the new trend still bullish between these trendlines. I have for now currently my New buy zone at 9684 - 9585 with a stop loss at 9575, However I will personally be waiting for the touch on the bottom trendline and the enter with an open stop loss, I also on the side should i miss it due to early morning have buy limits from 9684 till 9585 with stop loss little deeper at 9550.
Reason for this call is that we are still bullish and we have recently touched the new top trendline which is identical angle to the new bottom trendline. I am looking for a third touch at the bottom to give this a full confirmation and to hold all the way till 10 720, However for now my Take Profit will be set at 10 450, with patience being the key here!
Should the market first move to the upside I will still be in this position but do an update on the entry zones and TP zones. My biased remains long term and if im not mistaken we are only about 9 days into our new market mover cycle so we should see a correction only between next week Tuesday and Friday, But with 4th of July coming up we could see correction before however i stand by my theory of 12 to 14 days rally 1 to 3 days correction. We did climb much faster this time to the top however this consolidation of the last 24 hours tells me we are holding for a bigger move. This is where patience is the key. I would have loved to see 10375/ 10450 before the correction however currently for me is a no trading zone as we in the middle.
There would be a possible short opportunity once we see that middle respected trendline broken and retested as seen in previous correction however, I do not shirt cash markets as it always has an in flow of money due to consumer market growing.
I cant say a crash is coming for this market as the fed has yet to actually pump the markets, I do however see a much bigger picture of the bigger funds trading a top to bottom trendline every few years and we have just witnessed one of those moments. This was seen is 2018 and 2016 as well and in 2008. Yes news was at those time of pandemics and stock market collapses but for me it was seen as perfect opportunities for the bigger guys to take profits sell the market with a big move over few weeks and then buy again low, or even just take profit in a longer term trend.
Please take not this is only a theory and should be treated as such and everyone is entitled to their own opinion. I tend to move away from the news and intraday and focus on bigger moves I do see $11 000 - $12 000 for this market in the next 2 years if not sooner.
This is forex trading and it does come with risks but risk to reward ratios are what we live for. Leave a comment if you agree or leave a comment if you are looking to take the trade with me.
US100
Reason for this call is that we are still bullish and we have recently touched the new top trendline which is identical angle to the new bottom trendline. I am looking for a third touch at the bottom to give this a full confirmation and to hold all the way till 10 720, However for now my Take Profit will be set at 10 450, with patience being the key here!
Should the market first move to the upside I will still be in this position but do an update on the entry zones and TP zones. My biased remains long term and if im not mistaken we are only about 9 days into our new market mover cycle so we should see a correction only between next week Tuesday and Friday, But with 4th of July coming up we could see correction before however i stand by my theory of 12 to 14 days rally 1 to 3 days correction. We did climb much faster this time to the top however this consolidation of the last 24 hours tells me we are holding for a bigger move. This is where patience is the key. I would have loved to see 10375/ 10450 before the correction however currently for me is a no trading zone as we in the middle.
There would be a possible short opportunity once we see that middle respected trendline broken and retested as seen in previous correction however, I do not shirt cash markets as it always has an in flow of money due to consumer market growing.
I cant say a crash is coming for this market as the fed has yet to actually pump the markets, I do however see a much bigger picture of the bigger funds trading a top to bottom trendline every few years and we have just witnessed one of those moments. This was seen is 2018 and 2016 as well and in 2008. Yes news was at those time of pandemics and stock market collapses but for me it was seen as perfect opportunities for the bigger guys to take profits sell the market with a big move over few weeks and then buy again low, or even just take profit in a longer term trend.
Please take not this is only a theory and should be treated as such and everyone is entitled to their own opinion. I tend to move away from the news and intraday and focus on bigger moves I do see $11 000 - $12 000 for this market in the next 2 years if not sooner.
This is forex trading and it does come with risks but risk to reward ratios are what we live for. Leave a comment if you agree or leave a comment if you are looking to take the trade with me.
US100
