Technical Analysis of Donald Trump Media & Presidential Election
Note that the DJT has risen significantly from the recent lows. It is currently sitting at the Red support-resistance line on the chart. We normally short stocks at this point, but with the Elections approaching fast, should we entertain thoughts of Donald Trump winning? If yes, we should be buying DJT.
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How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it. Shorting is more difficult and should be done with extreme caution by novice traders.
#DonaldTrump #Elections #stocks #options #trading
----
How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it. Shorting is more difficult and should be done with extreme caution by novice traders.
#DonaldTrump #Elections #stocks #options #trading
Catatan
Trump Media & Technology Stock has failed to break out above the blue support resistance line and has now closed below the red support resistance line giving us a signal to sell DJT short. This could mean that Donald Trump will not be the President of the USA. Catatan
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