Updated chart with scenarios.
The last posts worked fine, to be honest it was such a good trading day for me that I lost half of my profits trying to buy the dip at support and risked the rest of my profits trying to buy the dip again..it was pretty good for me. Some short posts about today:
For those who are not familiar the nose today:
Fed Chair Powell sees pain ahead as interest rates rise
Jackson HOLL, YO, Aug 26 (Reuters) – Americans are headed for a painful period of slow economic growth and possibly high unemployment. Federal Reserve Raising interest rates to their highest level in 40 years inflation Federal Reserve Chairman Jerome Powell on Friday warned in his most blunt language yet about what awaits the world’s largest economy.
In a letter begins Jackson At the central bank hole conference in Wyoming on Friday, Powell said the Fed would raise borrowing costs as high as needed to curb growth, and would keep them there “for a while” to ease. inflation Which is more than three times the Federal Reserve’s 2% target.
“decrease inflation Likely to require a long period of growth without trend. In addition, there will likely be some easing in labor market conditions. While higher interest rates, slower growth and softer labor market conditions will decline inflation It will also cause some pain to families and businesses. These are the unfortunate costs of reducing inflation . But the failure to restore price stability It would mean much more pain.”
Love and a lot of pain
Oh..the incoming MTGOX! suck…