Following the previous analysis on Dow Jones, we saw the anticipated downward flush for the past couple of days.
Currently, the downward wave A seems to be finished following by a flat correction ABC as shown in the chart.
Overall the market is still bearish and the downward trend will continue once sufficient retracement has reached.
My main wave structure of the overall chart right now is shown below including the wave structure from my previous Dow Jones analysis from 8th Feb.
Currently, the downward wave A seems to be finished following by a flat correction ABC as shown in the chart.
Overall the market is still bearish and the downward trend will continue once sufficient retracement has reached.
My main wave structure of the overall chart right now is shown below including the wave structure from my previous Dow Jones analysis from 8th Feb.
Comment:
There is a minute possibility of small and swift SL hunt of the recent low formed by forming ending diagonal (contracting) waves 12345 instead of zig-zag ABC as shown below on 15 mins chart.
Trade closed: target reached:
Just as anticipated, the market corrected upward after a sudden SL hunt of the lower fractal point. Going upward upto the mentioned level followed by downtrend continuation.
