The decision here looks simple. Today’s price action looks like a move to trap the bears. Note the tight rising concentration surrounded by the red lines. This presents a good short term trade to long and where profit taking can occur. The cut loss will be if the region of 1140 gets breached convincingly.
There after, remove most positions, open short positions.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
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