I watched this top evolve with confidence it would continue. 7 years of trading and a great chart gives you high probability of being with the price. It has been racing to meet a top and once it was met it’s game over. This is a great lesson for new traders as these strong movements are normally supported by industry media creating a narrative that the momentum will continue. WRONG. PS I was caught by the same reversal in 2014 which cost me a lot of real money.
How can the data be positive? The price came down last night to accomodate the rises we can expect for the rest of the week with jobs, GDP, Consumer Confidence and Housing. The US is in trouble. And yet the dollar and dow keep rising showing a disclocation between the data and investors.