Yeah, maybe if you go all the way out by 12 months or more, but in the short term it looks like a "bullish flag" to me. Also we've finally turned the corner and turned upward, putting in a Higher Low (or so it seems). We've not seen a Higher Low in 2022. this is the first time, if we should go up from here.
Financial conditions easing is not what the Fed wants, period. They might surprise you. Keep short positions on and scaling out. Only time I want to be on the long side is when forward earnings are stabilized and trending up. We solved other two conditions so far: terminal rate around 5%, and time horizon is 6-12 months.
There she goes, finally broke above Friday's HOD. Still might see some resistance but, overall, I think we'll slowly grind higher into the open.
I have no idea what you're talking about. It's all Greek to me. As for me, I stick to the same principle as @SunTrader
Gap from Friday's ETH Close almost filled. Initiating a weekly swing long here (21.50) on small size. Will scale in (add) on higher prices. Even within a long scenario we can still pull back some here, IMO. 3900 or so. So, will stop out around 3910 and rather initiate a new trade if wrong on initial entry.
Locking in one point on that trade. Will add a few contracts in RTH if we get continuation and try to hold that all the way to > 4K. Should see a nice squeeze coming up here, but we're not out of the woods just yet.
exactly. But I look at them bc others do. Never a reason to enter, but when other things line up with it, it’ll give the trade more confidence
Never mind the Fibs. Personally, I only like the 50 % (which some may argue isn't even a Fib). This trade seems too obvious, now. So, maybe it won't play out.