Chimbarosa
Short

Dow Jones Evening Star: Possible Short

OANDA:US30USD   US Wall St 30

Hi guys I did not post for a while due to vacation, but here is my next trade, which is already active:

What to we see:

  • Strong rally with significant price movement in the last 7 trading days
  • Apart from one day, decreasing volumes
  • 4H overbought RSI moving to < 70
  • Daily: evening star (which is more less reliable like all the other reliable trading signals derived from technical analysis )

    What don´t we see:
  • Euphoria driven by post election greed and many publications that 15-20% is possible after the election
  • Hedge funds who invested massively in the range of 24'000 - 25'000 (according to some articles found on the internet; however I can't prove if this is true)
  • Strange price movements of 200 points within 10 minutes and relatively low traded volumes
  • To double tops and weekly divergence (maybe I gonna post this one as well)

    Additional Information:
  • You see three trend channels: Trump; Obama (w/o tax cuts, but including financial stimulus by FED) and post financial crisis (w/o tax cuts; w/o financial stimulus)
  • You see three possible TP´s and the SL (take the SL seriously, because of the strange price movements of the recent days)

As always, this is not an investment advise this is just my personal opinion.

Ride safe

Nov 09
Trade active
Nov 09
Comment:
As promised the weekly view
Nov 12
Comment: TP1 hit: Take some profit
Nov 12
Comment: & move SL to BE.
Nov 12
Trade closed: target reached: Last 15% are still running till BE or TP3. I hope you enjoyed the sweet 750 pips.
Nov 13
Comment: All targets have been hit… Thank you DJ
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