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October 10th - EU leaders will discuss a scaled-down budget proposal when they meet in Brussels next week. This comes after negotiators significantly reduced their initial proposal under pressure from some countries. Ireland, holding the rotating EU presidency, presented a compromise on Saturday regarding the EUs next seven-year budget, cutting approximately €160 billion ($179 billion) from the European Commissions €2 trillion proposal last year, to a nominal value of €141 billion. Irish Minister for European Affairs Thomas Byrne stated that the latest proposal represents a reduction of about 8% from the initial plan, opening the door to the next phase of negotiations. "We listened carefully to all member states. We worked with them to identify their priorities," Byrne said on Saturday. "No proposal can satisfy everyone."On October 10th, according to information released by the Houthi rebels in Yemen, the Saudi-led coalition launched an airstrike on Sanaa International Airport, the Houthi-controlled capital of Yemen, dropping four bombs on the afternoon of the 10th local time. In addition, the Saudi-led coalition also launched an airstrike on a communications facility in Hajjah province, also controlled by the Houthis, dropping three bombs. Saudi Arabia has not yet responded to these reports.On October 10, Russian Presidential Press Secretary Dmitry Peskov said that during his trip to Turkmenistan for the CIS Heads of State Council meeting and the Caspian Sea Eco Summit, Putin informed Iranian President Sergei Pezechzian that he would speak with Donald Trump. Following consultations with Pezechzian, Putin conveyed Irans proposals for resolving the conflict to Trump during his call with Trump on October 9. However, Peskov did not disclose the specific details of Irans proposals.According to the Palestinian National News Agency, Palestinian President Mahmoud Abbas issued a decree cancelling the Legislative Council elections originally scheduled for November 28, 2026, and rescheduling the presidential and Legislative Council elections for September 11, 2027.On October 10, the General Staff of the Armed Forces of Ukraine announced that Ukrainian troops had again attacked the Samara linear production dispatch station in Russias Samara region. The extent of the damage is still being assessed. The Ukrainian side stated that the station is a major hub for receiving, storing, and blending crude oil for Russia, playing a crucial role in ensuring the needs of the Russian military. Furthermore, the Ukrainian military confirmed that four storage tanks were destroyed and a large fire broke out during the attack on the station on October 7. Ukraine stated that such attacks are aimed at weakening Russias military and economic potential.

Make profit from falling markets

LEO

Oct 25, 2021 13:27


When the price of a product falls, we can make a profit through continuous selling transactions.


Observe the chart characteristics of the falling market, there are many opportunities to sell:

1. When the decline breaks below the previous low

2. When the price rebounds to the previous high


What is a falling market?

Because the short force of selling is stronger than the force of buying, the price of the product keeps falling. There are constant bad news in the market, the bears dominate the market. Judging from the performance of the price chart, the price continues to fall below the previous lows, and the moving average indicator shows a downward bearish arrangement. This kind of market is what we call a falling market.


How to make profit from falling market?

First of all, we have to find the previous low and pay attention to whether the price has fallen below the previous low during the fall.

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The price position of the previous low point is the key position of resistance to the decline. The price fell below the previous low and broke through the resistance, and the decline continued.


Then, keep in mind the principles of falling market trading

A short position is established after breaking through the key downside resistance.

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