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It's still sinking my bonnie loon 😨

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6 minutes ago, dmedin said:

It's still sinking my bonnie loon 😨

my signals started failing at 9:30, keep doing it til it stops working then stop, sit and wait for a new move 😐

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Markets clearly not expecting WWIII is imminent or even the long awaited financial crash in spite of it being 'predicted' every year since 2016. Oh well, just have to keep playing the bull then, boring.

H1 charts;

image.thumb.png.36fd5782f2734c3bd6cdc58337568d33.png

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The first full trading week of the year can often give an insight as to the thoughts of the big players who are looking at the longer term, will the theme be continued accumulation or reverse to distribution? 

The Friday candle on the S&P chart is an interesting one, you might have thought a period of profit taking was due given the unfolding US/Iran drama, and especially on a Friday but after the breaking news and a big reversal down buyers stepped in yet again and bought price back up from the low around 3211 back up to Thursday's open at 3235. Again that is bull strength and confidence, can they keep it going? The direction the market takes tomorrow will be interesting.

S&P daily chart.

image.thumb.png.8c537f10822b59ad634b603d63a75b90.png

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Posted (edited)

This gapping lower open helps confirm the idea that the pullback has begun.  Nice little bull trap set over the New Year period by the media etc, and a perfect little 'incident' in the Middle East as precisely the right time - all just coincidence of course :P

DJI-Daily.thumb.png.d3c52045606a96a6fea6dbad7d7ee572.png 

 

Edited by dmedin
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If the pullback has begun, then about 74% to 78% of traders (as of now) are finally on the correct side of the trade. 

 

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Posted (edited)

Oh well... heads you lose, tails you also lose, such is the nature of retail trading :P 

Edited by dmedin

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I am pleased to contact you hoping to know more about trading strategy of indices.

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Dow and Dax trying to hang onto their respective daily chart support levels (orange). Which way will the big players take this this week now they are all back at their desks could set the tone for the whole first quarter.

Daily charts with weekly pivots;

image.thumb.png.a11118490f07092b523093aff1dc2e59.png

image.thumb.png.97a6508a650379dc9f09538691fe706a.png

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3 hours ago, dmedin said:

Oh well... heads you lose, tails you also lose, such is the nature of retail trading :P 

image.png.2b0633bc6b257709832b522be7504dcb.png

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26 minutes ago, Caseynotes said:

image.png.2b0633bc6b257709832b522be7504dcb.png

 

Reminiscent of the interview with Mark Douglas.

 

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3 minutes ago, AndrewS said:

 

Reminiscent of the interview with Mark Douglas.

 

Cricky, that takes me back a bit.

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Zut alors, Wilfred!  😱  DAX is pulling back a fair bit.  Are you waiting for the U.S. open?

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4 minutes ago, dmedin said:

Zut alors, Wilfred!  😱  DAX is pulling back a fair bit.  Are you waiting for the U.S. open?

Waiting for what?

image.thumb.png.c38cf7abadaa2d131d0b0c10431dbd36.png

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Posted (edited)

Waiting before going short 😎  I went in short this morning, but I might close it before the U.S. open 🤔

Edited by dmedin

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Just now, dmedin said:

Waiting before going short 😎

with a chart that looks like that why wouldn't I be going short already? 🤨

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2 minutes ago, Caseynotes said:

with a chart that looks like that why wouldn't I be going short already? 🤨

ah, you edited your post after I had replied, I would be wary of staying in short for too long during any retracement especially around these levels which is essentially the bottom of a consolidation period in what is still a bull market. 

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4 hours ago, Caseynotes said:

ah, you edited your post after I had replied, I would be wary of staying in short for too long during any retracement especially around these levels which is essentially the bottom of a consolidation period in what is still a bull market. 

image.png

There was a very sharp turn at 14:30 GMT, will it regain the points it lost over today?

It was down 200pts, now down around 150 regained 25% of that downward movement. 

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We also have the following coming out at 14:45 GMT: 

USD Markit Services PMI (Dec)  & USD Markit PMI Composite (Dec) 

Something to look out for.

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6 minutes ago, CharlotteIG said:

We also have the following coming out at 14:45 GMT: 

USD Markit Services PMI (Dec)  & USD Markit PMI Composite (Dec) 

Something to look out for.

Both a beat on expectations;

Services 52.8 (est 52.2)

Composite 52.7 (est 52.2)

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It was all a false alarm, go long 🥳

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Strong bull yesterday for Dow and a strong start this morning as well, heading back up towards the all time high. Dax still some work to do to reclaim Friday's losses and Ftse also starting the day strongly.

Daily charts;

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S&P 500.  Last 30 years total return 1627%.

Best performing stocks over the last 30 years;

(The Market Ear)

image.png.98d9c5b2db6c6a19646a3dd75219c1f9.png

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15 minutes ago, Caseynotes said:

S&P 500.  Last 30 years total return 1627%.

Haha just imagine if someone bought and held an S&P 500 ETF and reinvested the dividends over the years.  They would have made a fortune by doing totally nothing 😮 

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Nice beat on the ISM US non-manu PMI 55 at 3pm giving the Dow a boost up on a check of the daily pivot after a lame day so far.

M15 chart;

image.thumb.png.d1f99401cdbe47537e64db0c1fba0481.png

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