DOW

Possible head and shoulder formation on hourly....needs a break below 20700,
Also strong support at 20400 ish area....
If a break below 20400 then I’d expect the down trend to resume.....
These are crazy markets and while I’m chatting moves of 100s of points takes place....lol

Jackozy wrote: The drop over the last couple of weeks came in a single move so perhaps we ought to expect a relief rally followed by another wave down but these are remarkable times.

The steep downtrend line meets the 38.2% retracement level of the drop at c. 22540 om Monday. Not saying it'll happen like that but it's interesting to note. There are also gaps all over the place, most notably the one from the 23553 close from 11 March which is close to the 50% retracement (close being a relative term in days of 2000 point moves).

No trading for me, just observing.

Good see you Jackozy! it has been ages!

Yep, this market is mad - anyone for a 1,000 stop?

How do you navigate this madness....

The drop over the last couple of weeks came in a single move so perhaps we ought to expect a relief rally followed by another wave down but these are remarkable times.

The steep downtrend line meets the 38.2% retracement level of the drop at c. 22540 om Monday. Not saying it'll happen like that but it's interesting to note. There are also gaps all over the place, most notably the one from the 23553 close from 11 March which is close to the 50% retracement (close being a relative term in days of 2000 point moves).

No trading for me, just observing.

Well, we have our answer - the rally is being sold into the close.

remo wrote:

Perfect level for a short on a first attempt is coming...but it would require around 600 point stop....

22590 ish.....That’s the 38.2 fib level from the high to the low .....

This market has gone crazy and I suspect this is all just a bear trap so be really careful..

Great for trading in and out thou....but only for the crazy....

And if your wondering why I’m posting IG charts out.....cos I’m lying in bed being lazy and using an iPad....
Also IG Charts show full 24 hour moves so can be very handy....

I must say, I am really loving the updates and seeing how people are trading and do trade.

In these strange times, this is certainly breaking up the bad news.

Good job everyone.

remo wrote:
And if your wondering why I’m posting IG charts out.....cos I’m lying in bed being lazy and using an iPad....
Also IG Charts show full 24 hour moves so can be very handy....

Please do continue! (not being lazy, but trading!)

I do hate trading alone - I've been working from home, but one of the screens is fixed on IG, and I've been nipping in and out. really stressful (but, first world problems).

Now, will the market sell-off into the close, or will they try to tease investors back in by rallying hard in the last hour like last night?