Update on this swing short, that’s been initiated and running.
Prepare for the following corrective pattern:
93,000 to 35,000 (close 50-75% of short at 35,000 to 40,000)
35,000 to 65,000 (hedge with a long in this range for risk management)
65,000 to 8,000
It’s also entirely possible we drop straight from 93,000 to 8,000 - just because a move of that magnitude hasn’t occurred before, does not mean it’s not possible. We have many liquidation and stop loss orders for leveraged buys and longs all the way down - this leaves a cascading chain reaction of sell orders that trigger off one into the next.
I call this a swing - but I’m personally expecting this to move quite fast.
Best to stay alert
- DD
Prepare for the following corrective pattern:
93,000 to 35,000 (close 50-75% of short at 35,000 to 40,000)
35,000 to 65,000 (hedge with a long in this range for risk management)
65,000 to 8,000
It’s also entirely possible we drop straight from 93,000 to 8,000 - just because a move of that magnitude hasn’t occurred before, does not mean it’s not possible. We have many liquidation and stop loss orders for leveraged buys and longs all the way down - this leaves a cascading chain reaction of sell orders that trigger off one into the next.
I call this a swing - but I’m personally expecting this to move quite fast.
Best to stay alert
- DD
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