Current Macro Environment is very bearish:
We are sitting at the golden pocket, range high and are currently forming an rounded top
I am expecting an fakeout H&S with early shorts getting stopped
Even if we have already formed an bottom - it is very unlikely that we go trough this level without an rejection
I am expecting at minium that we are able to take at least 1 take profit until it might turn more to the upside
- Inverted Yield Curve :> showing that Market Participants are forecasting that rates are being cut in the future
- Purchasing Manger Indexes are at contractionary levels - combined with the current situation in the money market - I do not expect that the real economy is going to relief from here
We are sitting at the golden pocket, range high and are currently forming an rounded top
I am expecting an fakeout H&S with early shorts getting stopped
Even if we have already formed an bottom - it is very unlikely that we go trough this level without an rejection
I am expecting at minium that we are able to take at least 1 take profit until it might turn more to the upside