Corrective move could be in it's final fase.
Dear traders,
According to my wave count we should be nearing the end of the correction that has been going on this entire month. 26300 is my final target before I expect the bulls to really wake up again. This area has been a battleground before. During this year's summer we've seen it as both resistance and support, and also last year this area was of importance to many traders.
A succesfull rebound means we can start looking back up again to finally try and beat the 30k.
Don't worry too much about the US presidential election yet. It's still 6 weeks from now and during that time a lot can happen on the market.
So for now my strategy remains selling the rallies until either my target has been reached and/or the bear channel has been broken to the upside.
Click on that follow button if you want to enjoy regular updates on major indices, commodities and forex :-)
Best regards from The Netherlands and remember: always use stops when trading!
According to my wave count we should be nearing the end of the correction that has been going on this entire month. 26300 is my final target before I expect the bulls to really wake up again. This area has been a battleground before. During this year's summer we've seen it as both resistance and support, and also last year this area was of importance to many traders.
A succesfull rebound means we can start looking back up again to finally try and beat the 30k.
Don't worry too much about the US presidential election yet. It's still 6 weeks from now and during that time a lot can happen on the market.
So for now my strategy remains selling the rallies until either my target has been reached and/or the bear channel has been broken to the upside.
Click on that follow button if you want to enjoy regular updates on major indices, commodities and forex :-)
Best regards from The Netherlands and remember: always use stops when trading!