Good afternoon traders!
Here is the recap of the state of the market:
20 days trend: Up, kind of strong, not more than on friday.
VIX: 20.4, a good and stable level.
Market analysis:
For the moment, the current VA is comprised by what was the previous VA, and the new one, that were added when the market tryed higher prices and failed back to previous levels. Based on this, and the fact we are currently on the lower point of the VA, I can see 3 possible scenarios, ordered by chance of happening:
1.-The market re-enter the VA, and strugles to find the higher points of the VA, but it manages.
2.-The market get rejected, and falls.
3.-The market goes and look for lower prices, but comes back, attracted by the magnet prices at the VPOC.
Current strategy: I'm long from 3901. TP 3924. Wrong at 3878.
Here is the recap of the state of the market:
20 days trend: Up, kind of strong, not more than on friday.
VIX: 20.4, a good and stable level.
Market analysis:
For the moment, the current VA is comprised by what was the previous VA, and the new one, that were added when the market tryed higher prices and failed back to previous levels. Based on this, and the fact we are currently on the lower point of the VA, I can see 3 possible scenarios, ordered by chance of happening:
1.-The market re-enter the VA, and strugles to find the higher points of the VA, but it manages.
2.-The market get rejected, and falls.
3.-The market goes and look for lower prices, but comes back, attracted by the magnet prices at the VPOC.
Current strategy: I'm long from 3901. TP 3924. Wrong at 3878.