2use
Short

DOWi Head and shoulders show weakness

INDEX:DOWI   DOW Industrials
Been a while i posted charts. I have been away perfecting my charting skills and testing to see if they prove to be working. So far my guesses were increased in their success. Recent one was that many indices (US and around the world) showed topping and head and shoulder formation is in many. I sold part of my holdings on the recent tops (for Russia, China and Asia in general). And i watched the correction materialize as many of my funds are now -6 -10% from their tops. I decided to post the chart of Dowi             to show how it looks like, but i am sure many can see this in other indices as well

1) A HS formation in recent tops coincides with the lower range of the blue channel
2) VixFix is not even indicating a bottom
3) One could have seen this coming when the head was diverging on CCI
4) We are still in the downtrending channel and there\s at least 2% down from here

5) With this we are not yet in the yellow range so a run up can also happen - watch the channels
6) The bars projections is from the 2014 October dash to the yellow channel
7) I would consider buying on a breach of the red channel (cause it may be a bull flag as well) or on the bounce in the yellow channel . Do share your ideas as well!

Good luck trading!
jangseohee
2 years ago
i am wondering could this be bull flag
the HS you've drawn is abit too squeeze together ^_^
snapshot
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2use jangseohee
2 years ago
Indeed, hence i buy on the break out of it up, but even within the flag i've outlined the range of the flag, it can retest the bottom of it again
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