TerenceTam
Short

Evening star pattern guide you to bear

INDEX:DOWI   DOW Industrials
First of all, I want to introduce my indicator to you all.
EMA_MUSIC_STAVE_BY_COWBEARCAR
which use EMA 7 20 38 62 100 to make music stave/staff on view.
I am poor in music and English, but I think other good at it and know WHEN to beat.
General speaking, moving average is slow and only give you advice on trend going and
the support/resistance point when correction occurs,
Well, This MUSIC_STAVE is totally revolution on moving average ,
It touch more and more High/Low even it is far from moving average .
I use 3 calculated lines, may be you can get the idea to find better.
By formula 2H-L, we get (2*EMA4 - EMA10) (2*EMA7 - EMA20) (2*EMA7 -EMA38)
You find the calculated line always catch each candle High/low.
Why I use MUSIC_STAVE instead of GMMA?
I try to make each height of STAVE even, and you can simple use ruler to measure.
EMA7 is one of the best MA from others, it always give the best entry point for you.

In the graph, besides evening star pattern, you will see the calculated green line give a pivot /\ turn.
Thus, you can better know the trend is change asap             .
Generally, moving average lag 1/2 of candle time. but at least better then break though EMA7 to know bear time.

I suppose it's time to drop back to 17300 for SMA 20 support in Nov.
For candle pattern, evening star tell you to bear .
but since the moving average look upwards, most likely it is correction.
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