It's Showtime! 17 Feb 2023

2023年2月16日🖼 Daily Technical Picture 📈

➤ We continue to see significant intra-day volatility in equities. Swings in excess of 1% up and down are now the norm. We should continue to expect this especially during this crucial period.

➤ This is the first day after many that the prices have managed to finish lower. The Bulls were not able to support the price. Their attempts today failed. That was sufficient to give me the signal to go ALL IN. Meaning, I am now SHORT with the maximum position size. It's Showtime!

➤ For things to go my way, I firstly need to see the price confidently break below 405. This was the recent low in the side-ways movement in the past couple of weeks. Then there is the much watched 200-day moving average at around 400. Below that is a possible fast drop to 390. That's around a 5% move from current levels.

➤ Conclusion: The Short trade plan is beginning to move in my favour but plenty of things may go wrong.