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What shall be trading position now in Dow Jones 

 

Long or short

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@Mayur,

At this moment in time there is no clear signal or indicator to short the Dow Jones in my personal opinion. 

I am showing you the chart 'daily' below:

1635811181_WeekendWallStreet_20191221_13_21.thumb.png.5365b4f69204d6887977699d641f795c.png

It is currently trading above its 20, 50, 100 and 200 DMA's on the 'daily' as the chart below shows:

767234341_WeekendWallStreet_20191221_13.21-2.thumb.png.80d4e0ab733a5d9d05cecef0596d7317.png

Of course opening either a 'long' or 'short' position right now would depend on what your trading style is? That will be a big influence in the type of trading decisions you make. 

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Guest hi  there

I'm on short on DOW,DAX,FTSE100 and its been a long ride 

stay on or jump out 

what can any one say 

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On 27/12/2019 at 22:07, Guest hi there said:

I'm on short on DOW,DAX,FTSE100 and its been a long ride 

stay on or jump out 

what can any one say 

I am holding a DOW short position as well, have to admit that it was painful few weeks.

but I will stay, the key is to adjust my position to survive and also be able to reduce the cost base over time, and finally the most difficult is to hold it unit the time comes, and keep the profit running.

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@strawberryscarlet,

Following the tape means following the price action. 

@sunshinestate,

I think shorting an asset when it is trending upwards and there are no clear signals or indicators that point to a 'short' trade is very high risk and will increase the odds and probability of making a loss on that trade. 

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@TrendFollower I agree with you in theory, but what i found is that TA indicators are always too late when they are clear... I understand the risk of shorting at this market, so try to manage it and let's see..

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@TrendFollower & @sunshinestate

I know you work off TA but just a head up that there is some market news our today (all GMT)

14:00 today GMT:

USD Housing Price Index (MoM) 

Prev: 0.6%

Est: 0.3%

USD S&P/Case-Shiller Home Price Indices (YoY) 

Prev: 2.1%

Est: 2.2%

15:00 today GMT: USD Consumer Confidence

 

On Friday (as @Mercury pointed out) :)  :

 

14 hours ago, Mercury said:

OK but the big one for the longer term picture is the ISM manufacturing data on Friday...

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@sunshinestate,

I agree with you that TA indicators are 'time lagging' signals which present themselves afterwards. I accept that. However, in my trading style and philosophy of trend following I acknowledge that I will never get in at the bottom or sell at the top due to such time lagging indicators. I will be looking to trade the middle part of the trend. 

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