Weekly Chart – Market has an overall bearish trend that seems to be really strong since 2008. What does it mean? – Not logical to be holding “long durational” trades that are opposite the trend.
Markets has finally broken off the 3 year consolidation with a classical bullish short-term trend. Current price range that market is in will induce greater volatility, this creates more real & fake opportunities for an entry.
Daily chart – Price action has broke off key level with a head and shoulder pattern . Market seems to have strengthen it’s short-term bullish characteristic, this indicates that market have a higher probability to maintain its run.