All the markets drastically went up yesterday with higher then the average volume. The up move yesterday could have been a “relieve rally” with some short covering at some point. We not know and really will NEVER know. We are going to setup a “Swing” Bearish trade based on the 60 minute Ichimoku charts. We are going to have the markets prove to us that yesterday’s bullish move will be maintained.
Due to the huge move yesterday, we are going to keep our stop very tight. Only 8 pts.
See chart below.
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