Potential long trade with target around 4,300

The trade is already active (since 4,070). Two major resistances are ahead:

4,120
4,155

My main assumption is, that we stay within the major channel (which started in Nov 2020; I gonna post a picture afterwards).

In addition to my main assumption, we have some positive divergence in the 4H MACD. You might want to wait until the cut is done.

Trade active

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This is the channel which I mentioned earlier.

s3.tradingview.com/snapshots/x/xd9bYWTP.png

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130 points so far. Always good to take some profits. The trend is still in play.

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We are still basing, which is usually bullish. I have closed already 60% of my long positions. I added some shorts (I would close the shorts if we don't see some selling within the next 36-48h). I still believe that we can make it to 4,340. Nevertheless. I am still an opportunistic bear. Take care.

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1H: This is why I added some shorts.

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But the 4h still suggest a bullish trend.

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And the daily is still bullish too.

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I still would like to see how this gap will be filled. But right now, we don't have enough selling pressure.

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Five days of basing, which is usually bullish. I am optimistic, that Wall Street might give a try within the next days.

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Trade closed manually

VIX broke out; Short squeeze on meme stocks; Rising yields. Time to take a brake.

130 points. Thank you ES!

Chimbarosa

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Chimbarosa