If you put a close Stop loss , you will have a good risk-win if you start a short. I personally was looking for the magical number 30k which it already achieved (well, it was 29996).
Reasons to short: 1. On all the fib levels the DJI had a resistance until it broke through. it will climb down the fib circle just like on the other fib levels before.
2. I am still amazed how printing this unbelievable amount of money can push the markets like that. (The US printed 9 billion Dollars! That might be the reason why Europe also had to print 8.6 billion Dollar worth Euro, just so the US would not just print and simply buy up Europe, like they do anyway...). But: highest numbers with covid19 does not seem to interest the markets. Weird! People lose their jobs , so less consume. The bureaus of big companies are emtpy and they pay twice for home office and bureau, plus it becomes more difficult to make things happen if you can´t meet personally, etc etc etc I am sure, you will find a lot of stuff why of almost ALL companies eventually the red numbers will rise. Lufthansa, Boing etc etc can only survice because they get hundreds of billions from the government!
The only question is: when will this system implode? How can every body be so optimistic, what do I miss out on? If YOU lighten me, write me in the comments. thank you!
I put a short just just above 30k at 30016 with a tight sl at 30041. This played out well.
As a Plan B , I had put another short at 30176 in case it rushed threw and forms a double top.... SL shorty above 13200.
Since it dropped to 29810 I adjusted the SL from 30041 to exactly 30k, in order to not lose a dime....
As a Plan B , I had put another short at 30176 in case it rushed threw and forms a double top.... SL shorty above 13200.
Since it dropped to 29810 I adjusted the SL from 30041 to exactly 30k, in order to not lose a dime....