Transition From Uptrend to Downtrend
A guide into 2023 if prices stay below its classic downtrend line; not breaking above.
It was all along in its classic uptrend line before 2022, but it has transited into its downtrend on the 3rd week of this year, when it broke below its support.
Before 2022 strategy:
• Buy on dips and can either target for both short and long-term
• Any sell-short, keeping it short-term as it is against its uptrend
2022 and after strategy:
• Sell into strength and can either target for both short and long-term
• Any long, keep it short-term as it is again its downtrend
What is the cause?
• Inflation
As long as there is no sign that inflation or CPI is below 5.3%, any other numbers are just not good enough to tame inflation.
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Modify on 2022-10-22 01:09
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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