As we are in the Black Friday week, let's look at the last year's price action, we had a great bullish run through the week on the sales during the week. Followed by a massive sell-off that lasted till Christmas.
As JPY pairs were not particularly moving in November, we are facing potentially the last week before liquidity and volatility returns to JPY.
When will the fall stop? Not anytime soon? It Can't Go Any Lower - It Can't Go Any Lower - don't try to caught a falling knife. Go with it! We may get pull back or correction but there is more downside. Trailing stops are in order. Ride the trend down after a pull back?
I recommend looking for entry into short positions at these points, because the market turned to a downward movement and most major players collect positions for sale, which is indulged in the formation of a "triangle" figure with a pronounced level of resistance.
As we know US30 has been making ATH's but for this very reason I would not feel good about entering long or even investing.
The smart money gets out here while the dumb money gets wrecked, Reason why I would do a Sell Stop order is in case price makes a couple more pushes to the upside be patient.
As we witnessed a clear bounce off of the 1HR demand area, we should see a retest of the latest record high. With major components of the Dow already reported Q4 profits, we should whiteness some slow down, towards our previous weekly supply (resistance levels *27,250-*27,350). Although we are currently in a bullish sentiment with trade talks taking a sharp turn...