Wow, stocks have really made that V shape recovery and have almost entirely consumed the initial sell off. Record levels of fiscal stimulus and support from central banks along with investors having no where else to put money has lead to this.
The Dow Jones is now trading just above the higher timeframe weekly/daily 0.786 fibonacci retracement level drawn off the all time highs and the lows of the recover around 18,000.
It is now or never for the lower high to form and have meaning in my opinion. There is minor daily resistance in this zone historically and 27,000 provided resistance on the initial sell off.
I think this is the place to enter if any but it is risky.
The Dow Jones is now trading just above the higher timeframe weekly/daily 0.786 fibonacci retracement level drawn off the all time highs and the lows of the recover around 18,000.
It is now or never for the lower high to form and have meaning in my opinion. There is minor daily resistance in this zone historically and 27,000 provided resistance on the initial sell off.
I think this is the place to enter if any but it is risky.
Trade active:
Entered on the 2x 15 minute wick rejection candles. Entry @ 27,248
Comment:
Plus 250 points so far. Moving stop loss to breakeven now. See what the weekend holds 😊👍🏼
Trade closed manually:
Was taken out of this one at entry so no dramas. I think this “big short” trade on US stocks is done for now.
It should be treated as normal trading and strategies.
It should be treated as normal trading and strategies.
