Matic Network - Bear scenario
AT :
Bear pattern
shoulder head shoulder
EMA 21 & 50 above the price
Fundamentals:
The price broke the trend line showing a weakening of the price.
In correlation with this pattern, tomorrow is the expiration date of 3.2 billion dollars in Options contracts on the CME (the largest derivatives market in the world).
Based on that correlation with that Matic Network is highly correlated with bitcoin, so that, in the New York session, it is expected that bears will lead the market. Let's short with good risk management.
I'll let the price advance a bit and then run my stop to BE (break even) as quickly as possible.
I will go with this scenario until the price meets or invalidates the chart.
Bear pattern
shoulder head shoulder
EMA 21 & 50 above the price
Fundamentals:
The price broke the trend line showing a weakening of the price.
In correlation with this pattern, tomorrow is the expiration date of 3.2 billion dollars in Options contracts on the CME (the largest derivatives market in the world).
Based on that correlation with that Matic Network is highly correlated with bitcoin, so that, in the New York session, it is expected that bears will lead the market. Let's short with good risk management.
I'll let the price advance a bit and then run my stop to BE (break even) as quickly as possible.
I will go with this scenario until the price meets or invalidates the chart.
