8 Days to Nov 2020 Elections - 26/10/2020
On monday , during the over night session, we traded significantly lower, below daily f3 node - which suggested that the Triangle failure has worked its course... only allowing us a intraday move that got us up to daily f3 resistance node.
By the time the US session opened we were trading close to daily f3 support node.
I warned about a break of that support node as a possibility - and if we do, its likely that we see an acceleration to the downside, which was exactly what ended up happening within an hour into the open.
DJIA traded more than 900 points lower at one point - finding support at intraday op, XOP expansion cluster as highlighted.
The wallstreet narrative for that move was rising COV19 numbers in the US, but the real reason for the drop was essentially - the break of critical Daily f3 support node, which had been holding price on more than several occasions prior to that break.
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Author
Joseph AuXano
Author
Joseph Auxano, is an active trader with more than 13 years of market trading experience. He obtained his degree in Finance from the University of Singapore. His passion for the markets started early. He was already actively involved with the stock markets before landing his first Job as a Trader at a Commodity Trading House in Singapore. His fascination for the markets continued to drive his search for the Holy Grail of Trading, and his research on Fibonacci Techniques. This led him to discovery of DiNapoli Levels in 2007. Since his training under the tutelage of Veteran Trader Joe DiNapoli, he has since developed as a Professional Trainer and a full-time trader. It was with DiNapoli techniques, that he discovered first hand the freedom that came with trading. He has traded the markets out from Toronto, Miami, Siesta Keys, Singapore, and is now trading the markets out of Bangkok Thailand. Joseph Auxano is an Authorized DiNapoli Expert, representing DiNapoli Levels Methodology in the USA, South America and around Asia. In 2019, with the help and approval of Joe DiNapoli, Joseph developed the DiNapoli Academy Online Course, with the goal of helping aspiring traders in their journey with Dinapoli Trading Techniques.
