The Clock Is Ticking
The Dow has gapped higher in the futures and threatens the top trendline with a breakout.
Pretty convincing wedge pattern....there is a staleness though in real buying support for weeks.
Either a breakout or breakdown?
Traders work with probability and back in 2019 we said that 2020 would be the year of all things.
Around 80/90% chance of the correct call and it happened.
This year the same odds are applied to 2021 being the year of the collapse.
Some believe that a vaccine will save the world, others say too much bear talk to collapse things.
Chart patterns are the key as is social mood...the news follows.
No point calling a top as it's futile....but it's getting very close and we wait for the trigger.
And that trigger could likely come in January, either a snowball effect of government totalitarian shutdown of business or some other left field event to surprise again!
Thanks for reading my idea and good trading!
Pretty convincing wedge pattern....there is a staleness though in real buying support for weeks.
Either a breakout or breakdown?
Traders work with probability and back in 2019 we said that 2020 would be the year of all things.
Around 80/90% chance of the correct call and it happened.
This year the same odds are applied to 2021 being the year of the collapse.
Some believe that a vaccine will save the world, others say too much bear talk to collapse things.
Chart patterns are the key as is social mood...the news follows.
No point calling a top as it's futile....but it's getting very close and we wait for the trigger.
And that trigger could likely come in January, either a snowball effect of government totalitarian shutdown of business or some other left field event to surprise again!
Thanks for reading my idea and good trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.