5 min head and shoulders pattern forming. 1 hour trend is down. The DXY is gaining strength up over 0.42% on the day (30/11/18) 17.42pm GMT. Looking to hit Thursday's Low. The idea is that you wait until it is expensive enough to sell, (sell into strength. Buy into weakness)
I have moved my stops on both the DXY and DJI trades. DXY in profit and some profit locked in. The DJI is at break even, considering the Fundamentals that are going to take place this weekend with Trump and China. I'm taking a cautious approach to these ideas and not leaving any risk on the table.
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It will probably test the uptrend-line before it struggles to push higher or tank.
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It appears that the downtrendline is still in effect (10:45 Am GMT)
Head and shoulders pattern is a reversal pattern and by the looks at where it formed, this is invalid
kevin-br94
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@Floretta, I noticed my error about 10 minutes after this post and had already closed in profit
Captain_Walker
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Was a good plan. Markets do strange stuff of course. At 02:34 AM 02 December 2018, Wall Street pushed north 220+ pts to 25811.3. It could go further north if bullishness continues into Monday morning. But anything can happen between now and then.
kevin-br94
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@Captain_Walker, Yeah, true. Markets always do what they want