That late sell off last night on US stocks for me was in the barrel just waiting to pop that support which had been holding all day. We all have our own ways of identifying support, but mine was showing up nicely on my 15m tf 200sma which was positioned at 27,240 for the first pullback on the Dow at 12 noon UK time, a bit lower down at 234 for the second one @ 4.45pm, and again @ 234 when it was hit for the third time @ 7.30pm UK time. by which time, the weight of momentum was so heavily to the downside that it popped, and boy did it pop!, not a huge drop on % terms, but it was a late sell off on a Friday, which significantly, finished the session right down on the lows for the day, so no late signature rally which we normally see from Wall St, and that potentially bodes bearish for next week.
I won't be around Monday/Tuesday and perhaps for the rest of the week, so feel free to contribute to this thread, as more is always merrier, and a big thanks to those who have contributed, your views and opinions are always appreciated.
Nice weekend to all. I won't be around Mon/Tues or perhaps all week.
As it's my thread, I'm allowed to be the proud Dad, so if you're someone who likes a bit of music, here's my lad playing the piano at his school Summer concert a couple of weeks ago.
Just for the week ahead.
Hang Seng Index could be looking for another 1000pts drop to Weekly 200sma, but it might need some Trump tweets to get there...
Dow hit the Daily 20SMA, so its 50-50 for a counter trend rally as it did make a small late friday rally. I have the Daily 100ema 26418 as potential support, or Weekly 20MAs around 26320. Otherwise it could be another 900pts lower to Daily 200sma with some negative news.
Dax has a cluster of supports at 11930-960 on Weekly 100MAs, or down to Daily 200 at 11695?
Have to wait and see.
Been busy with non-trading stuff, hols etc, but just put this vid up on my FB page showing where I think we are right now with the Dow. The videos above I deleted by mistake, so sorry about that.
Google hangouts have been discontinued, so all vids, and live screenshare, which I hope to start this week, will be via my Facebook page. I'll try and post as much as I can on this thread as well, but the idea behind the screenshare is that I can leave it open for anyone who wants to check in whenever, and comment on TA and call my live trades including rationale etc, which is easier than posting here.
Not trading Dax atm, just concentrating on the US session.
Needless to say anyone who wants to follow this thread from now on, will have to have a Facebook account. For those who don't, now's the time to get one I guess, especially if you want to access the live screenshare which will be viewable only on FB. For those who don't have one, or don't want one, I'll post as much on here as I can as per usual.
One more thing, if anyone wants to send me a friend request on my FB page ' Dow Live ', make sure you say you are a trader from forex factory, so that I know you are not a Facebook generated friend request. Then I'll add you to the group. Link below -
Sincerest apologies, the video 3 posts above has been on ' only me ' without me realizing, but it's now on public and can be viewed.
New thread, because as I'm no longer trading Dax, thought it would be better starting one without ' Dax ' in the title.
So this will be my last post on this thread, and for those who are interested, you can find the new one here : https://www.forexfactory.com/showthread.php?t=938500
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