Dow Potential high and Bull Shake out
Posted an hour ago in my public channel, of a potential fake bull flag breakout on the Dow.
Dow, has made a bull flag on the right, broke up but no acceleration yet, so there is a chance for a false breakout here. If so, big chance we see a range today between 27250/450. If that happens, up until closing, there is a chance maybe the last hour of trading it could drop. So going to sit and wait, hope for some zigzagging coming hours. With eventually a lower high as my blue line suggest. If so, we could see a big shake out move coming days.
Now i don't think its likely to see a big dump. Even in a bearish scenario, we should get top formation of several weeks i think at least. So the blue line on the right is a likely scenario as well. But no need to get ahead of things. First see how today goes
The combo with the Dax, if they both play out, would increase the chances.
If Dax, which looks like it broke a real trend line, moves like this, it could fall perfectly in place together with Dow description. If so, the odds will improve even more
As i am writing this, bouncing up again from te flag support at 27250ish. Now we could form that lower high (blue) or maybe even the higher high (red). But important to see it stay below the 27450ish. If it rallies above it, then this theory is off the table. Ignore the time frame of the blue lines, both of them. Ideally, we see THE last high (blue or red) form in the last hour of the US stock market open. To see bulls take profit in the last 30/60 minutes of this trading day.
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Dow, has made a bull flag on the right, broke up but no acceleration yet, so there is a chance for a false breakout here. If so, big chance we see a range today between 27250/450. If that happens, up until closing, there is a chance maybe the last hour of trading it could drop. So going to sit and wait, hope for some zigzagging coming hours. With eventually a lower high as my blue line suggest. If so, we could see a big shake out move coming days.
Now i don't think its likely to see a big dump. Even in a bearish scenario, we should get top formation of several weeks i think at least. So the blue line on the right is a likely scenario as well. But no need to get ahead of things. First see how today goes
The combo with the Dax, if they both play out, would increase the chances.
If Dax, which looks like it broke a real trend line, moves like this, it could fall perfectly in place together with Dow description. If so, the odds will improve even more
As i am writing this, bouncing up again from te flag support at 27250ish. Now we could form that lower high (blue) or maybe even the higher high (red). But important to see it stay below the 27450ish. If it rallies above it, then this theory is off the table. Ignore the time frame of the blue lines, both of them. Ideally, we see THE last high (blue or red) form in the last hour of the US stock market open. To see bulls take profit in the last 30/60 minutes of this trading day.
Don't forget to like if you appreciate this :)
Comment:
Comment:
Dow is still going as planned, but Dax is broke the trend line, went above it again but almost going up a bit too much already. So bearish view getting bit shake here.
For the Dow, if we see another touch of the black trend line around 27250ish, it will be very likely to see it break eventually. Market is still open 2+ hours, so as mentioned above, maybe we see it all happen in the last hour
For the Dow, if we see another touch of the black trend line around 27250ish, it will be very likely to see it break eventually. Market is still open 2+ hours, so as mentioned above, maybe we see it all happen in the last hour
Comment:
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