This breakout is impressive! Just yesterday I mentioned that if it stabilizes above $95,700, it would turn bullish, and today it really surged. The short-term script needs adjustment; the first target is around $98,500, where a lot of short positions are piled up. The market maker will definitely want to liquidate these unfortunate souls before pushing it down further.
Don’t be fooled by the current rise; my overall bearish outlook hasn’t changed, but when it starts to drop depends on the market makers' mood. This market is a typical case of both bulls and bears getting slaughtered— the more you add shorts around $98,500, the more motivation the market maker has to push the price up, after all, they won’t miss the opportunity to use the fuel from the liquidation orders.
Operating Guidelines:
Brothers holding long positions, you can gradually take profits around $98,500; don’t be greedy.
If you haven’t entered the market yet, don’t chase the highs; wait for a pullback to the $95,500-$96,000 range before considering.
Remember: market makers love it when you mindlessly open short positions; we need to do the opposite, only after liquidating the shorts can we move forward.
Dangerous moment
Getting slapped in the face? Not happening! I’ve said it before, if it stabilizes above $95,700, you have to go long; if you don’t follow the strategy, who can you blame? The market always teaches a lesson; we need to follow the price trend and not go against the money. Quick short-term trades can make some profit, but wait for the signals to initiate the long-term strategy!
Want to double your account? Want to enjoy big profits? Want to recover losses successfully?
Follow closely and position yourself for the main bull market waves!