Trade Idea Setting Up Into Support Santa Rally I am positioning myself to take part in the year-end rally and the December 18th FOMC. I can smell another 8% rally coming.
I will see how price gets into the support zone and when it starts holding, I will get in. The stacked highs are the target. The triple top over 45,000. I have a feeling the market will close 2024 over the 45,000 level for headlines.
The two biggest clues for this trade Idea is the peak formation low and the creeping trend. Creeping trends are used as order flow for the reversal back up. Once all the shorts start covering, a squeeze happens. What I am looking for is the creeping trend's capitulation into support.
There is probably 2000 ticks of upside potential here.