Charlieab94
Short

Dow Jones Flag Pattern

OANDA:US30USD   US Wall St 30
Nice flag pattern forming today on the Dow Jones index. Looks to be price consolidation after the early morning sell off and I anticipate this selling could continue.

TP levels on the chart but really, if price drops down lower I think it could shock stock buyers in to taking profits and more larger downside to begin. Everyone knows fundamentals don't align with technicals right now but unfortunately there is no where else to put cash other than stocks.

I believe that it is okay to take 3 small losses in order to catch the next big move on stocks. This is a bubble due to burst in my opinion
Comment: Made this trade risk free now. Avoided the spike on the back of the FOMC news but markets are choppy. Remove risk
Comment: Nice 1000 point drop so far, taken some profits @ 26,500 but still holding this trade. Bearish momentum is strong and bullish trendline now broken
Comment: 2200 points locked in now, over 7.3R from the original position. Still holding some short exposure on this as there could be a lot more downside to come
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Comments

Bro, thoughts on the monthly?
Reply
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