Greed, greed, greed… Institutions are hungry for the best price and want to accumulate as much as they can. This sort of opportunity only happens a few times per decade. That is why they want to kick out the dumb money (retail traders, weak investors, etc.). By creating a false breakout below 30 000, they can manipulate fear to their advantage and use it to make massive amount of $$$.
We are looking for a rejection of the Weekly 50MA and the Large 61.8% Fib Retracement. We also have the -61.8% (161.8%) Fib Extension of the last impulsive leg. All technical confluence points towards an entry between 27500 – 28500, slightly below the 30 000 psychological level.
We are looking for a rejection of the Weekly 50MA and the Large 61.8% Fib Retracement. We also have the -61.8% (161.8%) Fib Extension of the last impulsive leg. All technical confluence points towards an entry between 27500 – 28500, slightly below the 30 000 psychological level.