Some hopefully reinsuring charts for BD who I cannot commend enough on his courage to honestly share his trading experience.
First chart is a weekly fib fan chart of the DJIA which has posted a decisive close under the 38% fib line. Indicators still have plenty of room to move before they are oversold.
Next up is the weekly AUD/USD which is starting to break down out of a 2yr rising wedge pattern. Again indicators have been overbought for an extended period & have plenty of room to cool off especially if the MACD goes negative.
Finally BD's nemesis the XJO. What has caught my eye is the MACD which is heading down to levels only seen once before in the past 10 years during the GFC. I know this is only one indicator but it gives you an idea of which way momentum is heading.
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Some hopefully reinsuring charts for BD who I cannot commend...
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