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US30Apologies for not posting this on Friday. Still going to do a review of the week. I'm just busy with my relocation situation. So I don't think I'll be heavy on the charts but I'll put out my weekly review. What happened here was the positive gain of the US, besides the rumors and many people talking about the collapse. There are many factors which will direct how that will happen so till then we wait, watch, plan and trade the plan. Also NFP week so do not forget your fundamentals as they will affect your plan, your strategy and just how you trade this week.
UShort
by Mhangwane1
US30This is my my "Sunday" review. I'm slightly fluish but that still is no excuse to being a slack. Here we have US30 (A pair I actually didn't have the belief I'd be able to trade) From the Daily, we can see we are forming a pennant and in previous weeks we have broke an uptrend, retested and continued. So we know we have hit all 3 points on both sides. Move down to the 4H where we see a double bottom and an inverse H&S which is the opportunity for a bullish run. That is still not enough to declare our buying bias. We will wait for area of significance to be broken, retested before fully placing Buy Stops. Down to 15M, those mini runs are risky but if you're thirsty and have enough capital to play with (you know how much that is), then fully go for it and stay watching it. I have just read that it is the CPI week so it will shake up the fundamental side of the market.
U
by Mhangwane1