So looking at the DXY, I still feel we are expecting 2 situation (yes the old up and down what can we do in the world of charting!) I'm being bearish , sorry bulls! We are still expecting a move down.
I have been stopped out of a large position because I was too eager to get my short in with high leverage. That's fine I will be risking a big short depending on how we finish the day. Friday naturally will be a key point. This DOW chart shows us in a downwards channel. Your thinking, idiot, consumer spending is big its Christmas how can you be so bearish? Lets see it play out, we still have big factors in the world that can trigger lots of downside.
Dow price targets simulated in chart ****** this chart was made a over a week ago ***** DOW is in a downward channel and a bearish ascending wedge. Key points for me. If you zoom out on the daily you can draw a trend line from the 16th as a support up to where we are now it connects to the target at 44. so between 44-48 will we see us retest this point before moving on.
Importantly, can someone tell me how Powells meeting gave the space a bullish sentiment? He always comes on the scene with wet paper speeches? However, everyone makes movements regardless of solid figures coming out? He literally stated we "maybe" able to fix the situation but the window is "very narrow", I don't understand how that gives people confidence.
Regardless, DXY is in a make of break position to fall to big support or blow up wards, I'm more inclined for a move down over the next few weeks to bring the DXY towards the 100/101 mark. However, a bounce up to 107/108 should happen first before we can make a decision on it's direction.
It's coming up to Christmas consumer spending will drive the markets ultimately IMO.
Hit me up with your thoughts lets brainstorm. No opinion is wrong do not be shy to express a feeling or information that you feel can change the space.
I have been stopped out of a large position because I was too eager to get my short in with high leverage. That's fine I will be risking a big short depending on how we finish the day. Friday naturally will be a key point. This DOW chart shows us in a downwards channel. Your thinking, idiot, consumer spending is big its Christmas how can you be so bearish? Lets see it play out, we still have big factors in the world that can trigger lots of downside.
Dow price targets simulated in chart ****** this chart was made a over a week ago ***** DOW is in a downward channel and a bearish ascending wedge. Key points for me. If you zoom out on the daily you can draw a trend line from the 16th as a support up to where we are now it connects to the target at 44. so between 44-48 will we see us retest this point before moving on.
Importantly, can someone tell me how Powells meeting gave the space a bullish sentiment? He always comes on the scene with wet paper speeches? However, everyone makes movements regardless of solid figures coming out? He literally stated we "maybe" able to fix the situation but the window is "very narrow", I don't understand how that gives people confidence.
Regardless, DXY is in a make of break position to fall to big support or blow up wards, I'm more inclined for a move down over the next few weeks to bring the DXY towards the 100/101 mark. However, a bounce up to 107/108 should happen first before we can make a decision on it's direction.
It's coming up to Christmas consumer spending will drive the markets ultimately IMO.
Hit me up with your thoughts lets brainstorm. No opinion is wrong do not be shy to express a feeling or information that you feel can change the space.