DowJones Falls 1000 points more below 25760 to another key level at 24680 - breaking that support it could be some serious fall of 3000 points more to 21712
Scenario 2 -
Dow Takes support at 24680 - bottom as of today so far & holds to bounce upside giving some relief which will help India Nifty also to bounce next week on Monday 3rd March, 2020.
Dow Jones at mountain top - The clue to the current fall which was expected was the Big Triangle sideways move.
13th Jan 2020
Last Price @ 25409
Wow!!! - Dow started following scenario- 2 as discussed above in the main idea & happy as Monday, 2nd March 2020 (correction in main idea - Monday, 3rd March) might be relief day for Indian markets as well.
Some pause can be expected in the fall of benchmark indices when trading is resumed next.
Nifty Bulls might say - Thank You Dow.
What Next ?
Dow shall resume its fall next once it slips below 24680 - key level next
What is a Hammer Candlestick?
A hammer is a price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies within the period to close near opening price.
This pattern forms a hammer-shaped candlestick, in which the lower shadow is at least twice the size of the real body. The body of the candlestick represents the difference between the open and closing prices, while the shadow shows the high and low prices for the period.
Picture of Dow Post Market - Candle turned Green - Hammer Candlestick Pattern
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw