Dow Jones: Is this the beginning of a 2nd SELL-OFF? Cont'd
2nd wave of coronavirus has become a factor in Europe.
Central banks are selling gold for the first time in more than a decade to keep their economy afloat.
Dow Jones had the biggest weekly drop in 7-months after multiple breakouts such as 1) the 5-month rising trendline, 2) the neckline of a double top and 3) created a lower low in 7-month.
With all the above factors, we have a case to expect the 2nd wave of the selloff in the stock market which probably has begun.
The strategy to sell is simple:
1. Don't be a fortune teller and try to time the market and trade with tight stop loss.
2. Make sure your trade does survive before the price pulls all the way back to the double top at 29200.
Central banks are selling gold for the first time in more than a decade to keep their economy afloat.
Dow Jones had the biggest weekly drop in 7-months after multiple breakouts such as 1) the 5-month rising trendline, 2) the neckline of a double top and 3) created a lower low in 7-month.
With all the above factors, we have a case to expect the 2nd wave of the selloff in the stock market which probably has begun.
The strategy to sell is simple:
1. Don't be a fortune teller and try to time the market and trade with tight stop loss.
2. Make sure your trade does survive before the price pulls all the way back to the double top at 29200.
