No Persons Land, 21st Sep 2022
🖼 Daily Technical Picture 📈
➤ Prices held above the immediate lows but overall still drifting lower. It is stuck in between support and resistance zones. This is fitting behaviour given the USD Fed Interest Rate decision on Wednesday afternoon.
➤ VIX is not giving much away. Still trading below the recent peak but at elevated levels.
➤ Market makers and intra-day traders must be enjoying the erratic market movements. Prices haven't really gone anywhere these couple of days but volatility is high. I'm happy to stay on the sidelines and avoid being whipsawed.
➤ My exposure is currently 0% with no positions. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Fed decision will not only decide on the level of interest rates but also the next level prices will move: to support or resistance.
➤ Prices held above the immediate lows but overall still drifting lower. It is stuck in between support and resistance zones. This is fitting behaviour given the USD Fed Interest Rate decision on Wednesday afternoon.
➤ VIX is not giving much away. Still trading below the recent peak but at elevated levels.
➤ Market makers and intra-day traders must be enjoying the erratic market movements. Prices haven't really gone anywhere these couple of days but volatility is high. I'm happy to stay on the sidelines and avoid being whipsawed.
➤ My exposure is currently 0% with no positions. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Fed decision will not only decide on the level of interest rates but also the next level prices will move: to support or resistance.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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