US tech looks really overbought here with 100 period hourly trading well below the 200. Looks like time to bank long profits and look at shorts. We should look and see how strong DXY is doing and if the dollar keeps firming equites will likely sell off again. I suspect that nasdaq rising is just speculators buying ahead of amazon results and bargain hunters stepping in. Once amazon results are in this evening, I expect the nasdaq to fall.
Looks like a low high reward short in this region, if we get some good confirmations. Stop at all time high. Lets see if the wedge can be broken to the downside.
Order cancelled
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I'm currently not in this trade as we keep breaking to the upside of the wedge. I will wait for better confirmation to enter the short if it comes
Trade closed: target reached
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See comments below nice swing trade from 1550 down to 1410 ish
new ATH reached, any idea or update for upcoming trend ? any idea for correction ?
breakoutfakeout
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@vychod I haven’t been trading tech much this week as I think industrials will start to outperform in the short term as we come to grips with COVID and leave our homes more.
vychod
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@breakoutfakeout, can you recalculate your opinion about US100, please ?
breakoutfakeout
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@vychod, Hey just posted an update on my main page, check it out
breakoutfakeout
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@vychod hey I’ll post an idea in the next 24 hrs, Essentially stay long and strong buying dips until you see divergences or he trend changes
paulquentin15
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how can I get the latest update from you?
breakoutfakeout
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@paulquentin15, check your notification setting on trading view. I'm also launching a telegram channel soon which will be easier for everyone
breakoutfakeout
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@paulquentin15, please see comment below and above, short trade is on the radar but not yet valid