Just closed my short positions and decided to take a two-day break, staying in cash to observe.
From my perspective, the current candle represents a typical pullback rally. The bulls might interpret it as a second wave of buying after the bounce bottomed out and stabilized, but the issue is—we haven't even seen the smallest timeframe consolidation convergence yet. Under these circumstances, I won't open positions lightly.
The technical setup needs more confirmation signals. Rather than rushing to catch the move, it's better to wait for the candle to provide a clearer direction. That way, the risk will be much lower. Just for reference.
Just closed my short positions and decided to take a two-day break, staying in cash to observe.
From my perspective, the current candle represents a typical pullback rally. The bulls might interpret it as a second wave of buying after the bounce bottomed out and stabilized, but the issue is—we haven't even seen the smallest timeframe consolidation convergence yet. Under these circumstances, I won't open positions lightly.
The technical setup needs more confirmation signals. Rather than rushing to catch the move, it's better to wait for the candle to provide a clearer direction. That way, the risk will be much lower. Just for reference.