US100 - SHORT (bull trap?)
Last week I took 2 selling trades on the 7770 mark and closed the most recent yesterday after market opening (openings are marked with arows). Price broke out that level and is finding resistance at ~7960. This comes after a rally and short sellers are opening positions at the 7960 level.
In my opinion we are facing a continuation of a bull trap. Price will break and retest this level, followed by a massive move to the downside. Not a matter of if, but when, since we are facing a crisis.
Quantitive easing, 0% interest rates, trillions in debt, index funds bubble, more and more virus cases and shutting down businesses. All this has impact on the market and I will be waiting for price action on the 8000 level to short. Not sure if the bull trap is ending, since we had a clear one that resulted in 400pips of sell off and after that we saw movement to the upside.
Would like to know your opinions!
In my opinion we are facing a continuation of a bull trap. Price will break and retest this level, followed by a massive move to the downside. Not a matter of if, but when, since we are facing a crisis.
Quantitive easing, 0% interest rates, trillions in debt, index funds bubble, more and more virus cases and shutting down businesses. All this has impact on the market and I will be waiting for price action on the 8000 level to short. Not sure if the bull trap is ending, since we had a clear one that resulted in 400pips of sell off and after that we saw movement to the upside.
Would like to know your opinions!
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