Hi All, the fake rally is underway. LOL.Like a lot of you guys...

Hi All, the fake rally is underway. LOL.
Like a lot of you guys I'm very bearish, but its unwise to short this rally prematurely unless you have deep pockets. There are plenty of trading opportunities in the short term time frames to go both ways but right now on the daily chart of the AUS200 CFD, price has closed right on the 38.2 Fib retracement level of the big move down and the market looks to have some legs to run. Sentiment is bullish across a lot of currency pairs and equity markets and it's not going to turn on it's head until it clears out all the bearish shorts and converts enough fence sitters to new bulls who believe the bottom is in place.
The virus aside how could the massive financial disasters that are yet to be announced globally been all ready priced in? Impossible!! In saying that price is going up so don;t get involved too early in any long term short plans. The XVI (ASX200 VIX) is still pointing down so best to wait for the institutional money to change direction imho.