After ultra-dovish FED, one could expect a mini-rally on stocks. But all we saw is a decline in global stock markets. ( SP500, DJI, DAX … All fall )
Golden Cut on H4
Sell the breakout of the wedge
Levels as described on the chart
3 key bearish indicators :
-Overbought according to the RSI hovering around 70.
- Break below ascending trendline
-Stalling at key resistance level.
Even though the RR is very high and might seem unrealistic, our lot size is fairly large and we will hedge our way out throughout the trade for better risk management and capital preservation.
Soon it would be possible to create a bearish cross between Tenkan & Kijun on a daily basis, then I do not think we will see a new ATH so soon.
If I'm right, then March should not close above the first blue line at 26136 and April not above the second line at 26792.
Otherwise, I let myself be surprised.
As you can see guys we have here a beautiful head and shoulder pattern on US30. The rule says what ever distance from top to neckline, after the breakout it will drop the same distance. If you can see that distance, it means it should drop down to 25619 in confluence with that zone. Price threw a wick all the way up during FOMC today but respected the pattern and...