Following on from the prior Short trade we are still in (from $24'140), the CPI number is about 12hours away.
SO what now?
Uncertainty favours bears obviously, MM will be coming for the built up Long SL/liquidity.
Next likely stopping point is the $21800-$22100 area, it is wise t take 20% profit on the shorts here as this will be about the time when CPI comes out.
Lower than previous CPI is bullish, above expected/higher than prior is massively bearish. I am leading to bearish but who knows.
I say to take slight profit as the MM may send the price back to 22700 on a short SL hunt before dumping... volatility is high of course.
Will update late when CPI is out.
TECHNICALLY
Indicators are mixed, moving bearish currently but can easily swing back bullish, we follow the market sentiment for now with certainty or uncertainty (bullish/bearish).
SO what now?
Uncertainty favours bears obviously, MM will be coming for the built up Long SL/liquidity.
Next likely stopping point is the $21800-$22100 area, it is wise t take 20% profit on the shorts here as this will be about the time when CPI comes out.
Lower than previous CPI is bullish, above expected/higher than prior is massively bearish. I am leading to bearish but who knows.
I say to take slight profit as the MM may send the price back to 22700 on a short SL hunt before dumping... volatility is high of course.
Will update late when CPI is out.
TECHNICALLY
Indicators are mixed, moving bearish currently but can easily swing back bullish, we follow the market sentiment for now with certainty or uncertainty (bullish/bearish).
