DOW

www.bbc.co.uk/news/business-51726954

stopped out!

short order in 27400...but i'll again if we go below todays low 27350....
this is still going down imvho....but knowing which way its going and trading it succesfully are two different things!

There’s some crazy moves both ways currently...

added another short at 26568.3....stop 26800... gap resistance....no moving this stop....today

larger position here so lets see...i think this is set for a red day imvho....
atb
trendfriend

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...AaI9RM+BkEmbSmGaZdE=

The dow can make you doubt your Analysis and thinking....because it can push you hard both ways when it goes up or down.....
off course a line in the sand is important....for me its the 200 day ema line on the daily....at 27,400 area....
another key level is 27200 which is the 50 day ema line on the weekly chart....
i'm convinced this will come down.....but should have waited for key levels....
I was on the right side of the market by going long on Friday....but closed my longs way too early...and went short....
My 2 shorts are small...but deep under now....
i think i wait wait for 27200 and 27400 before adding larger shorts with tight stops...

The second wave of selling is usually stronger than the first imvho....because it has real panic in the market.....lets see
atb, wdik, dyor,
trendfriend

Cup and handle on hourly chart of Dow...

I see cup and handle formation on the hourly chart of the Dow on IG charts, and also rounded bottom on ftse100 ..,That’s a bit worrying for my shorts... I’m going to have to play both sides of the market until the move down resumes..





I’m going to have to trade based on what I see and not emotions...
That’s the beauty of technicals....
Even thou I believe it’s a bear market I have to be flexible for just Incase of the unexpected..
If the fib level of 61.8 gets taken out (Dow)with ease then that can cancel the bears and could signal continuation of prior trend.
61.8 fib level is a very strong resistance area and would require something special to break that...I would be shocked if that level goes .