8000 is like a boundary.
watch the RSI support dotted line.
Hi Kutero,
Don't you mean the MACD dotted line?
Btw your post are always great, thanks a lot.
Best regards,
Allan
Dow drew me back in, saw it spike at the close at my daily TL and had to short, clever maybe not, be will see. Out of the money atm, oh dear.
i did the same too, saw it spike near the end, decided on a short at 8030, £5 a point, hope ive not gone in too steep as im a new trader,
what did u mean by out of the atm ?
DOW must clear 8120 today or else it's going down...
I really don't know what the hold up is...
15 mins..
Closing over 8000 is still to important.
For those who are having trouble seeing direction you have my sympathies, here we have a daily chart of the YM.
Divergance traders will notice the drop in volume while price has continue to produce higher lows.
Clear resistance around the 8070 area give or take a few pips. What makes this intersting is the area I've put a circle (or sorts) around the area to the left. Heavy supply (selling) in this area, so, if the Dow is to make it to 9000 and beyond there is going to have to be a significant effort to push through that area.
Just my 2c that I thought might help a few.
Interesting volume divergence thanks Slapshot. Technicals may point to a drop but looking at it now it's going over 8105 and above...
As before that could be a bear trap and we could be on the verge of a breakout.
I was expecting more rises so this could be it but either way I've lost my rudder at the mo. Will watch and see.
I've lost my rudder at the mo. Will watch and see.
Going to be an interesting Friday... /QUOTE]
Options expiry too ? As well as a couple of big earnings reports.
Think I'll hit the beach......
Options expiry too ? As well as a couple of big earnings reports.
Think I'll hit the beach......
Bernanke also has a speech or some sort at 5.30pm UK time.
They wouldn't be marking it up ready for a down day tomorrow would they