For further confirmation - watch for RSI and MACD to diverge from price action as double top is formed. - look for reversal Candle - Bear Volume and/or lack of BULL volume as price action can fall with light volume. Heavy volume needed to up, not down.
Buy on the rumour and sell on the news....
Yeh more QE or normalization talk is jsut talk....
I've learntto expect the unexpected...
Agree with you that there is at least a short term trade opportunity around this level...
maximus189
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Haven't you heard interest rates are staying low this means there's more to go in this rally. Normalization won't hit for another year or so.
DigitalMoneyTraders
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@Jnate189, hey whats up. I have heard mix reviews on the interest rate stuff.
For me this setup is awareness and TA only (no fundamentals considered). If I start to see a double top, then the added confirmation of the shark will be a confluence zone and a signal I'll act on. But if not, then for sure long as breaks ATH with volume- I will buy the breakout either direction. Maybe even options long straddle/strangle.
Yeh more QE or normalization talk is jsut talk....
I've learntto expect the unexpected...
Agree with you that there is at least a short term trade opportunity around this level...