Ok guys, we have managed to fall below 2540 for 3 trading days and then suddenly we have started our week with a huge push up. So, what is this? I will answer very quickly: Wall St. is playing with the fools. And who are the fools? Well, it's up to you answer this question but I think you've got the point. So, I trade the graph not the news. I believe you guys already notice that. If this movement shows confirmation (standing up to 2650 level), I will trade it upwards, no problem. But be careful, because we have a lot of traps set. Main target will be 2900. Maybe we could be trapped on 2792, so whatever you will trade, set tight stop-losses. This is a bear market, don't be fooled by the news, this is my main advice.
Take care and as always, hit the thumbs up button and feel free to comment!
Be also mindful of Thursday pump based off Oil production cut.
kriegster
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@maxaus, Well remembered! Thank you for your comment!
tradeBob1
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agree. trade chart, not news. news has been negative. sentiment negative. chart says buy.
Netxpert
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Last week I went against my own principles. I was seeing strong rejection around 2468/2470 area decided to stay longer in position which just badly burned me. I may need to come back to Forex to recover my losses. Always look out for your ideas.
kriegster
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@Netxpert, thank you. Consider put your ideas on your tradingview profile, I would look for it! Cheers
Netxpert
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Any timeline for hitting the lows, earnings season is starting and it’s going to be bad to worst earnings. So wave 2 can be triggered any day
kriegster
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@Netxpert, yes I agree. The best thing to do right now is trade the signals and not be biased by any side. I strongly appreciate your comment, thank you!!