Hi folks!
The market seems untradeable right now imo - we are in no mans land in terms of technicals (trends, horisontal support/resistance, MACD/RSI etc.)
I still believe we will go way further down in the long term, and we have a lot of both immediate and longer term risks in the market.
However, a crash/big correction almost always happen over a very long time with a lot of counter-trend rallies -
thus, I will only make very short term long-trades when the market is in panic mode and short-trades (through the VIX) if we see extended rallies.
My take is thus that the best action is to stay out right now if you are either a long term investor or a medium-term trader -
The fewer trades you make and the mote patience your have in a volatile market, the better.
DYOR.
NFA.
I wish you all well :)
The market seems untradeable right now imo - we are in no mans land in terms of technicals (trends, horisontal support/resistance, MACD/RSI etc.)
I still believe we will go way further down in the long term, and we have a lot of both immediate and longer term risks in the market.
However, a crash/big correction almost always happen over a very long time with a lot of counter-trend rallies -
thus, I will only make very short term long-trades when the market is in panic mode and short-trades (through the VIX) if we see extended rallies.
My take is thus that the best action is to stay out right now if you are either a long term investor or a medium-term trader -
The fewer trades you make and the mote patience your have in a volatile market, the better.
DYOR.
NFA.
I wish you all well :)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.