DJI (2H): That mini crash - what does next week hold?
Well, there is trouble in the markets for sure. Last week saw a meltdown of about 8% from one peak, on the DJI.
My crystal ball broke a long time ago, and I'm not getting a new one from Ebay. 😂
The video outlines how vigilance on the 2H timeframe paid off for anyone who wanted to short this market.
So - what about next week (beginning Mon 24th Jan)? No predictions, all you get is probability and some of my experience. (Note the disclaimer below)
There is a massive gap between the 2H ATR line and the lowest price point. That in conjunction with the deep dive (much of it being panic), suggests that dip-buyers (unless they've wised up) are gonna plough in.
What those folk are largely unaware of is that Wall Street traders can not only sell but short sell.
What if price gets above the 2H ATR line next week or the following week? It doesn't mean a lot because there is the mother of 4H and 6H trends in the bigger picture. In fact there has already been a major shift in market sentiment on the 1D time frame. That's something to do with the FED, and interest rates etc. But in technical analysis causal factors are not so important.
A grind down further from the current price point is also possible.
My overall estimate is for rebellions. It could be very wild out there next week. That's good for scalping if you know what you're doing.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
My crystal ball broke a long time ago, and I'm not getting a new one from Ebay. 😂
The video outlines how vigilance on the 2H timeframe paid off for anyone who wanted to short this market.
So - what about next week (beginning Mon 24th Jan)? No predictions, all you get is probability and some of my experience. (Note the disclaimer below)
There is a massive gap between the 2H ATR line and the lowest price point. That in conjunction with the deep dive (much of it being panic), suggests that dip-buyers (unless they've wised up) are gonna plough in.
What those folk are largely unaware of is that Wall Street traders can not only sell but short sell.
What if price gets above the 2H ATR line next week or the following week? It doesn't mean a lot because there is the mother of 4H and 6H trends in the bigger picture. In fact there has already been a major shift in market sentiment on the 1D time frame. That's something to do with the FED, and interest rates etc. But in technical analysis causal factors are not so important.
A grind down further from the current price point is also possible.
My overall estimate is for rebellions. It could be very wild out there next week. That's good for scalping if you know what you're doing.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
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