Do we continue the downtrend this week? AUS200Do we continue the bear market this week? Or do we rebound?
I can see us dropping to new lows however in this current market anything is possible. My short is currently in a nice profit.. Using a trailing stop loss strategy with this one.
We will have to see what the Australian Government can deliver on a stimulus front, money printing is only delaying the inevitable at this current moment.. The $2Trillion stimulus package will have a short-term affect as the cases of COVID-19 continue to go parabolic in the US..
Let me know your thoughts below!
Remember to keep your analysis simple! I use a 14EMA and recent S/R zones to base my trading on, I then wait for confirmation candles in either direction to make my moves.. Building my patience has so far been my most challenging factor in trading..
Keep on the alert!
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MNLZ