Ill take a short next week
Looking for this>>>
$UVXY as indecision tool
Expecting sideways week with probes for day trade shorts
Swing short setup not there yet
$UVXY as indecision tool
Expecting sideways week with probes for day trade shorts
Swing short setup not there yet
Its only 46 days along the average 68 day (80 day cycle) trading cycle so it will probably need more time to chop around and not get too excited. In fact its a trap for bears here.
This is a classic case of watching for a top in a bull market, particularly the end of the second 40 day cycle of the 80 day cycle.
There is no money to be made on the short side with this 80 day cycle.
There may be volatility on earnings for NVDA 0.00%↑
There may be a short trade after day 55.
I think it breaks the highs by the end of the week then will probably sell off into 1st week of March, because the last 20 day cycle will be bullish, just as the previous seven 20 day cycles were bullish
Nothing to do here but if it looks like bearishness does enter unexpectedly, or quickly, then I will use UVXY 0.00%↑ to go long.
Unless youre competing and proving yourself, you dont know how good your actions are, really.
Im working on my book for trading cycles and its Saturday night, Im not super good to say the least, Im pretty suffered up actually in all seriousness Im never 100%.
Yet, theres a guy here that looks to be ROLLING/JAMMING in his laptop at Starbucks. Doesn't seem to be agonizing but PARTYING.
Guy is in the zone …
Youre not working that hard.
Much love,
Derek Frazier
The rally out of this early 40 day trough is bullish for the market, it didnt touch its 20 day support and still found buyers, albeit very quickly and overnight. It might continue for days.
The two bitcoin ETFs are moving higher after forming a probable 20 day cycle low, and will be expected to continue higher back into their weekly range. It may be the start of a trend higher as equities cool off and Bitcoin comes back into focus. I usually trade the first 20 day cycle trough even if they are new issues recently.
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