The market reaction to Powell’s speech, in which the potential rate cut by the Fed in September was essentially confirmed, led to a rise. However, what’s encouraging is that the previous peak wasn’t broken.
This is a good sign for a short.
Just to remind, I have a rather bearish view on the broader market in the medium-term (on a 1-year horizon).
And perhaps the moment has come.
Maybe it's not yet the time for a big short, but we could certainly head toward the 630 area.
📝Trading Plan
🟢Entry: Short from the current level
🔴Stop: 647. If we go above the historical maximum, I’ll exit, and the idea will be off. I’ll look for another entry point for a short.
🎯Target: The potential downside is to 630, maybe even lower—let's see. For now, this is the plan.
This is a good sign for a short.
Just to remind, I have a rather bearish view on the broader market in the medium-term (on a 1-year horizon).
And perhaps the moment has come.
Maybe it's not yet the time for a big short, but we could certainly head toward the 630 area.
📝Trading Plan
🟢Entry: Short from the current level
🔴Stop: 647. If we go above the historical maximum, I’ll exit, and the idea will be off. I’ll look for another entry point for a short.
🎯Target: The potential downside is to 630, maybe even lower—let's see. For now, this is the plan.
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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.
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.