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J&J is approaching the crucial multi-year up-trendline and I'm considering closing my position if a bullish candlestick appears today.

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You've had a good run down with this one and it's at an interesting junction, on the H4 price has broken below the May low and looks to be testing the underside as possible resistance so may go lower but also may be about to retrace back up, worth watching closely.

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J&J did indeed bounce near the multi-year up trend - will see how much energy there is in the bounce this time.  It might be that we get another shot at going short.  :D

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Edited by dmedin
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Still watching J&J for any sign of another potential drop.

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Looks like a much lower high, hoping it is followed by a much lower low 😺

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Until I look at the hourly chart and see that hideous double-ended green monster.

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It's hovering beneath the long-run uptrend.  Suspect that it is another 'too big to fail' corporation.

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34 minutes ago, dmedin said:

It's hovering beneath the long-run uptrend.  Suspect that it is another 'too big to fail' corporation.

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Can't seem to shake off the never ending run of bad news.

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Oklahoma judge reduces Johnson & Johnson opioid payout to $465 million

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Looks like addicting thousands of people to opiates and poisoning babies doesn't affect the bottom line so much after all!

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J&J is as safe and sound an investment as ever - buy the dips!

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    • This week is a crucial week for US indices I think especially end of the week. If we are going to see extreme Dow soon, the market will let us know.  The volatility is expected to pick up so money can probably be made in both directions with 1000+ points move again. I personally would not go long for a couple days. There are positions trapped right now going long from last week so I would guess some will be forced to endure some pain, unless they volunteer to take losses.
    • If it moves below $5k to maybe $4k again, it doesn't look like there is a great deal of support. Sure it can double in a short span of time but don't you think this is a very risky trade?
    • as explained earlier in the thread the cumulative risk reward ratio (auto calc'd on a spread sheet) plotted on the chart with the win rate is absolutely fool proof in revealing if a strategy is profitable of not. Also if you make any changes to the strategy the result will show up quickly in the stats so revealing whether the change was advantageous or not. Without hard statistics people have a habit of misleading themselves as to how well they and their strategy are really doing.
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