DOW

Cup and handle on hourly chart of Dow...

I see cup and handle formation on the hourly chart of the Dow on IG charts, and also rounded bottom on ftse100 ..,That’s a bit worrying for my shorts... I’m going to have to play both sides of the market until the move down resumes..





I’m going to have to trade based on what I see and not emotions...
That’s the beauty of technicals....
Even thou I believe it’s a bear market I have to be flexible for just Incase of the unexpected..
If the fib level of 61.8 gets taken out (Dow)with ease then that can cancel the bears and could signal continuation of prior trend.
61.8 fib level is a very strong resistance area and would require something special to break that...I would be shocked if that level goes .

Fingers crossed

dam,,,,already hit it today....
im short now...fingers crossed....proper crazy market

Best area to short currently is at the 38.2 fib level.
This is at 26550.
Im going short from there on a first attempt basis only. With a 500 point stop....

Not for the faint hearted...lol

took the short at 25972.3
my stop is way high....but i may cut it out if 26050 goes....

lets see...