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Usd/Mex...Trading Today's Forex MarketAs easy as pie. LOL. This is actually my favorite position for price to be in... B waves baby. When do you take profit? When do you let it run? The answer is both, always. At least in my opinion, when you are here. I said buy from bottom. Sell from the 1.236. May have another buy coming, then maybe a sell. If the dollar creates more of a "B" wave then that would make sense. We are turned down on TDI for sell on Umex on higher time frames, but as long as it WXY's, so will I. Did a simple ABC... That's a "W"...
by thillygoosth
Were not out of the clear yet.DONT BE OVERLY EMOTIONAL If you are eating up those bull market headlines you will most likely get burned. Dont let CNBC finnsesse you into the herd mentality. Things you have to ask yourself before you long A. Is the economy strong... "Dar_klord! Of course the economys strong! Fed is raising interest rates! Unemployment is at an all time low! This is just a correction! Long live the bull market!" Well plebian, let me fill your fallopian tubes with a little bit of my fundamental nut. This tax bill has harbored an extremely speculative market. Companys margins are at an all time high from tax breaks. Share buybacks are happening left and right. The indexs are where trading way above their historical standard deviations before the 29th. I would argue that these gains are not EARNINGS BASED. The market is over valued. Combod with tarrifs and FANG stocks are running out of team. The participation rate is actually pretty low (around 60%). B. What does the technical say? While this move today was a big ol 1%, it seems this volatility is here to stay and we should expect these moves. If we see another move down tomorrow that would confirm this bearish wedge I drew. The double bottom is promising but I wouldn't rule out going lower for a big PHAT ABC correction. Then again, tmrw we could get a nice big day and switch everything up. But hey thats the market for u. Happy Trading The bigggest nutsack in town - Darklord_ *This is not a recommendation to buy or sell*
SP:SPX
by I_I_I_I_I_I_I_I_I_I_I_I_I_I_I