Remember that the long term trend is down right now. Sellers are just waiting for a moment to short the market.
You can see in the chart above the supports and resistance levels mapped out. In a bear market then it is more profitable to look for shorts in many investors opinions. So you should expect sellers to step in with volume near major resistance levels as seen above. These are the areas I will be trading the reversals or breakouts.
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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SpyderCallOP : @BeBlessed
BeBlessed SpyderCallOP: Many thanks Bro !
SpyderCallOP BeBlessed: no problem
im glad to help
BeBlessed SpyderCallOP: Shorted and close for 280 points profit. thanks for the chart :)
SpyderCallOP BeBlessed: heck yes!!!! I love profit. Good trade!
I would have shorted it as well with a chart looking like that. Im glad to know I could help
BeBlessed : Bro SpyderCall, does the above DJ30 chart still valid for today?
SpyderCallOP BeBlessed: sorry for the late reply. it still looks valid to me
BeBlessed SpyderCallOP: Thank you! I had closed my S position. 303 points profit :)
SpyderCallOP BeBlessed: niceeee! good trade! i like to see the profit spreading around to everyone except the big banks. You just got a little of their money off of that trade. way to go