DJIA caught in the Box - forming a bearish Head & Shoulder???
Since 4 months DJ is consolidating in his tradingbox 17600-18260. The Zone between the tradingboxes edges has a neutral character, But the edges of the box are good for scalping
Scalping ideas / Trading the support / resistance:
-Long @ 17.600/17.750 - target 18.300
- Short @ 18.300 - target 17.600/18.300
Break-away trading ideas:
-Stoppbuy @ 18.350 target longterm-uptrend top
-Stoppsell @ 17.800 (neckline) shortterm target : 17.600
-Stoppsell @ 17.600 target shortterm : Head-Shoulder projection= 17.200 / target middle/longterm: 50/61,8% fibo-retracement from 15.850-18.300 (normal/maximal-correction
The First shortterm buying-signal appears if Dow can close higher than his right shoulder @ 18.100 -shorttermtarget: 18.300
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Kann DJ den mehrmals getesteten Widerstand (WS) bei 18350 aus dem Weg räumen, kann davon ausgegangen werden, dass zügig neue Hochs folgen sollten. Ein Abpraller am WS erhöht die Wahrscheinlichkeit, dass die Boxunterkante erneut getestet werden kann. Unterhalb der Unterstützung (Boxunterkante) bei 17600 ist rein charttechnisch mit einem Abverkauf zu rechnen.
Scalping ideas / Trading the support / resistance:
-Long @ 17.600/17.750 - target 18.300
- Short @ 18.300 - target 17.600/18.300
Break-away trading ideas:
-Stoppbuy @ 18.350 target longterm-uptrend top
-Stoppsell @ 17.800 (neckline) shortterm target : 17.600
-Stoppsell @ 17.600 target shortterm : Head-Shoulder projection= 17.200 / target middle/longterm: 50/61,8% fibo-retracement from 15.850-18.300 (normal/maximal-correction
The First shortterm buying-signal appears if Dow can close higher than his right shoulder @ 18.100 -shorttermtarget: 18.300
If you like my analysis and find it useful, please take a second and hit the LIKE button and follow me. It takes some time to create these posts and your LIKES let me know it is helpful to you. As always, any comments are welcome. Agree or disagree.
Kann DJ den mehrmals getesteten Widerstand (WS) bei 18350 aus dem Weg räumen, kann davon ausgegangen werden, dass zügig neue Hochs folgen sollten. Ein Abpraller am WS erhöht die Wahrscheinlichkeit, dass die Boxunterkante erneut getestet werden kann. Unterhalb der Unterstützung (Boxunterkante) bei 17600 ist rein charttechnisch mit einem Abverkauf zu rechnen.