G20 - weekend it's a CRAPSHOOT -a risky or uncertain matter.
full of news - will Trump and Xi agree to be friends?
(I put it in the vernacular form, as Trump speaks like this - and quite often in a very child-like form, which is probably why he appeals to half of the American people)
So looking at the charts :
Dow Industrial - (I'm not an expert in candlestick formations but do refer to a book I have dealing with Japanese Candlestick charting)
What can we see?
1. In candlestick terms each of the highlighted moves has a long bullish candle, followed by a "spinning top" - a sign that buyers and sellers are evenly matched or indecisive.
2. Looking at the firs 2 highlighted patterns : these are called " Evening star" they usually occur at the top of a trend.
3. This implies that the next big move will be down..HOWEVER as this weekend is a CRAPSHOOT - several scenarios can happen.
a. A large gap and crap
b. large gap up and continue
c. large gap down and recover
d. large gap down and continue
e small range trade
"Do I feel lucky?' Well, do you, punk?"
So...if you're feeling brave - take a position
If not flat is also a position - and there will be trades to do after the event.
Technical analysis of Major Markets, F/X, and anything that can be traded This is my diary for trading Views expressed in this are only for educational purposes. They ARE NOT recommendations to BUY or SELL anything!! ALL comments and criticisms welcome.
Quotes
Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.
— Marcus Aurelius
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