Captain_Walker

DJI (6h) - Double top - and more.

FOREXCOM:DJI   Wall Street CFD
The trouble with double tops is that, you don't know where exactly price will go. Have a look.

All you can do is take a controlled loss ( aka stop-loss). If you can't afford it, don't take it (obviously).

Today was exciting!! USTech was heading south, whilst price on other US stock indices went madly north. The news said, that this was a about rotation. (Read up on that). Well, I don't think so. It looked as if moms and pops traders took confidence in an early rise of USTech and moved madly north.

Tech continued to grind down after that bounce, checking the confidence of the gamblers.

There's potential trouble on the DAX where 'gamblers' went wooohooo towards 14000 ish . Then the big boys said hold on a sec!

Oops - hello there is trouble in the Bond markets. The FED is basically fighting against itself - trying to boost bonds and prop up stock indices in the US at the same time. Yellen made an announcement that inflation is not a problem - and the gamblers became ravenous. (You don't see that stuff on the 6H chart. Look into the 15 min time frame.)

In other events, officially US debt struck just over $28 Trillion. But the true figure not in the public domain is estimated to be around ~$128 Trillion. Like 'who cares' some say, 'The FED has our back'.

Disclaimers: This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. 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.
Comment: It wasn't a double top. So, what.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus https://youtu.be/NjTdvALChwk ]

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