Jan 02: 17.30 AEDT
Awkward chart - due to spinning top on Friday.
I was expecting window dressing last week, and it was the bears.
Next week, with most traders still on break, I am now expecting a brief rally.
The tax losers are sold and growth stocks may support.
Strong support at the 50% Fib, with rising secondary support by late Feb.
The rolling top pattern normally requires a return to its starting point.
I think it may be happy around the 2207+/- area.
My main indicator is the DMI - the yellow line.
Anywhere sub 20 is normally the buy alert (with +DI in the same country)
and above 30 is a sell (with +DI above and turning down).
Warning was the 12th; signal was the 21st+.
I am currently short and will close stop and reverse on Yellow/+DI sub 20 &/or the initial support area getting traction 2205.
Then add or bale and wait for 2171-2181
... just my 2cents worth
You are adults so please use your own plans and thought processes
Awkward chart - due to spinning top on Friday.
I was expecting window dressing last week, and it was the bears.
Next week, with most traders still on break, I am now expecting a brief rally.
The tax losers are sold and growth stocks may support.
Strong support at the 50% Fib, with rising secondary support by late Feb.
The rolling top pattern normally requires a return to its starting point.
I think it may be happy around the 2207+/- area.
My main indicator is the DMI - the yellow line.
Anywhere sub 20 is normally the buy alert (with +DI in the same country)
and above 30 is a sell (with +DI above and turning down).
Warning was the 12th; signal was the 21st+.
I am currently short and will close stop and reverse on Yellow/+DI sub 20 &/or the initial support area getting traction 2205.
Then add or bale and wait for 2171-2181
... just my 2cents worth
You are adults so please use your own plans and thought processes
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