oops
Short

DOW DOWN short term

CBOT:DJ1!   DJIA
172 0 0
yeah, we were so close to hit all-time-high, well perhaps tomorrow is another chance.

Either way, for me it is time to hit the bid, it jusy looks exhausted ,but I reckognize we are still in a bull market for now.

a) broadening pattern after a rally means bulls and bears are in a big fight, but it could mean a top
b) with this broadening formation there is a distinctive negative divergence

I will place my stop at around 2x ATR, which gives me a bit room above the rising broadening top line as well as above the old all-time-high with cushion.

Target is minimum the lower supprt line of this broadening formation where I would take off 50% given the volatility. Second target will be around 38% retracement of recent rally or the first stepper uptrendline, depending how long it will take.

happy trading :-)
KP
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out