These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
There still seems nothing more to add from yesterday’s analysis. The extreme short term trend is still down. The intermediate and long term trend is still up.
For longs, I would like to place my stops a little below 3510.
This type of volatile market will give jitters to both bulls as well as bears. How do we trade this market then? I have three options. (i) Enter at lower levels, (ii) short at higher levels, or (3) stay away.
We need to plan our strategy according to the time frame of our choosing and risk appetite. That is the basic essence of trading this volatile time.
And keep in mind, I still maintain that the probability still remains upwards.
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