TradingView
chrisatom
Jul 18, 2018 6:41 PM

DJI 18 Jul- Weekly R1 hit. 

Dow Jones Industrial Average IndexDJ

Description

The long trade from the break of the diamond pattern has met its target. This weeks early price action has ground up deeper into the target zone, and is now met with WR1 and DR1 resistance. As per the end of last week, R/R is now firmly in the profit taking area, leaving a runner if desired. QT is due which will time well with a move to lower pivots. However a reversal pattern is needed to confirm. Currently flat.

Please see earlier charts for how the trade was forecast.
Comments
PivotalPivots
yes, and this weeks high filled an open gap from 6/14. Gap and Wr1 where close. Many times open gaps act like price pivots.
More