This morning, we observed a notable increase in retail short positions across multiple timeframes, clearly diverging from the rolling averages. This shift in sentiment aligns with a symmetrical triangle breakout to the upside.
Currently, the price is making a minor pullback to retest the triangle’s upper boundary—a setup we definitely want to take advantage of.
Our stop-loss is placed just below the second higher low at 190.50, protecting the trade structure. The target is set at the full amplitude of the triangle breakout.
We'll continue monitoring retail sentiment for additional confirmations, with the intention to gradually increase the long position if conditions remain favorable.
Currently, the price is making a minor pullback to retest the triangle’s upper boundary—a setup we definitely want to take advantage of.
Our stop-loss is placed just below the second higher low at 190.50, protecting the trade structure. The target is set at the full amplitude of the triangle breakout.
We'll continue monitoring retail sentiment for additional confirmations, with the intention to gradually increase the long position if conditions remain favorable.
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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.