A friend asked: Is it time to be bearish?
Recently, near the 15EMA moving average of the weekly chart, it has been going back and forth between bullish and bearish
In general: when bullish, bulls can't go up
When bearish, bears can't fall
This shows that the current rise and fall should be a weekly chart-level shock consolidation.
In other words, there are opportunities for bullish, but they are limited near the red upper rail
There are also opportunities for bearish, but they are limited near the red lower rail
There should be a transition in the middle of the long-short conversion, rather than a sudden change, which further shows that the market is volatile.
Only in a volatile market will the longs go short immediately after the shorts go long
And what we want to capture is the trend market, so we hope to see that there is a transition stage after the longs go long, so that we can confirm that it is short, and then turn from long to short
After the shorts go short, there is also a transition stage, so that we can confirm that it is long, and then turn from short to long.
I don't want to be bullish yesterday and turn bearish today
Or I was still bullish in the last four hours, and I started to be bearish in the next four hours.
This seems too hasty!
As for whether this wave of bulls can continue and whether bears are coming, we will not make a conclusion today, but give the market a transitional stage and let it go a little longer. So we will wait until this week's candlestick chart closes before re-judging whether it is long or short.
Nowadays, the market is up and down, and blindly working alone will never have a chance.
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