War with Iran and market finally pricing in low growth can have a nice flash effect to $490.
I also think the higher probability trade would be a dead cat bounce or reversal, as peak fear enters.
I also think the higher probability trade would be a dead cat bounce or reversal, as peak fear enters.
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bounce hereTrade active
drop soon ;)Trade active
Clear Island reversal off of my first resistant levels in black AND THEN it GAPS OVER my pink volume resistance level....Its showing weakness here after hitting my blue line BUT, it could easily gap over it AGAIN like the previous two times.
With this being said and also comparing the path of price, differences in volume profile and times previous pull backs or "corrections", there isn't much more room left without a capitulation or small pull back in the coming months. SEPTEMBER MARKS WHERE VOLITILITY BEGINS.
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going for the most obvious short.... we just rallied into close the day before FOMC.Going down
Note
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Looks like we will see some chop to confuse everyone. People are getting bearish but to many may be on the same side here.Pop to 556-558 then drop?
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Last update on this for a bit. In this chart below, I put the actual path I think price is going to take. This 555-556 area will be hit and its the most important zone to see how we react. I think we will reject and head lower, but am waiting to see this reaction first.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.