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Looking for signal to short this bloody equity rally?I have a solution. Use the moving average 50 period low. Check the 4h chart on US30. Insert a 50 period moving average low. Insert support and resistance lines. You will notice a couple of things, at the end of the last equity rally, it was profitable to short the market EVERY TIME once the price CLOSED below the 50MA. In other words you couldn't go wrong using this signal. In the current rally, the MA50 has acted as a support EVERY TIME (along with upward trend). A close below this line will be a good time to sell based in historical patterns. A close below the upward trending black support as well will confirm selling signal. We are approaching historical resistance and I'm expecting the price to fall below the MA50 soon - probably this week. The rally has taken many scalps. Don't be cannon fodder. Trade wisely. There are many fundamental reasons why this rally should end, I feel that this rally is purely technical.
FX:US30Short
by maccabean
2