Sandeep_Gupta
Short

Ending Diagonal Sell setup

INDEX:DJY0   DJIA
There is an ending diagonal setup. The sharp sell off is expected to the starting of the diagonal. We kept our target at 38.2% of wave (3).
tompower
2 years ago
You are only looking for a partial retrace ment than new highs. That is bold sir
Reply
Sandeep_Gupta
2 years ago
These are just the rules and guidelines provided by the Mr. Elliott and integrating them with the practical fibonacci retracements and extensions.
+1 Reply
HamedAghajani PRO Sandeep_Gupta
2 years ago
doesn't that long wick worries you?
Reply
Sandeep_Gupta HamedAghajani
2 years ago
Elliott wave theory says that after a ending diagonal is formed, a sharp correction follows and this correction may go up to the the 4th wave or the starting of the diagonal.
Reply
HamedAghajani PRO Sandeep_Gupta
2 years ago
Thanks, This means that once the ending diagonal has been broken, the price action underneath the ending diagonal does not matter. Am I correct?
Reply
Sandeep_Gupta HamedAghajani
2 years ago
The ending diagonal started to form since October 2013 and it took almost a year to form. I may be wrong but a week's candlestick can not subdue the pattern of a year. It is true that the price can take any path but the observations of years of the masters says as I outlined above.
+1 Reply
pmks1
2 years ago
This looks pretty interesting to me ...
Reply
kate25 PRO
2 years ago
snapshot
I agree with you Sandeep
Reply
matt_forex
2 years ago
I have to disagree, the long wick on the most recent candle came down touched a support point and turned around. Also a trendline can be drawn from 2009 on ward and has not been broken. We shall see, good luck.
Reply
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 Billing Sign Out