FX:US30   Dow Jones Industrial Average Index
My idea is supported by two main analyses:

  • Elliot Wave count for a triangle formation ABCDE currently at E indicating a new impulse in the opposite direction might be coming.
    Bearish Gartley pattern fully formed.
    Bearish AB=CD pattern fully formed.

HIGH RISK trade, remember this is against the major trend so place your stops accordingly.
Risk/Reward ratio is excellent nonetheless, and that's the main purpose of this trade.
Comment: Stops moved to BE for protection. The market is unstable, it is better to be prepared and wait for the news.
Comment: Trade is evolving just as expected. DJI index official volume numbers show healthy reversal heading lower. I'll use volume as my indicator for an exit in case i see volume decreasing.

Stick to the plan.
Comment: Wave 1 seems to be completed. Wait for a retrace to complete wave 2.
So far, so good.
Comment: Looking good.
Comment: Better than expected. Wave 2 earlier?
Comment: First target, incoming!
Heavy buying at the bond market. Buyer unknown.
This will make yields go lower for a bit. It could boost stocks also.
So, i'm paying close attention.
Trade closed: target reached: On point!
2nd order still open.
Comment: Possible turnaround here, watch this support.
Comment: Almost got the second target.

Also, the long term trendline seems to be broken (candle closed below) BUT, i'll monitor it anyway.
I also might move my 2nd target further down to last low.
Comment: Bullish Gartley

Keep this on your watch. I'll keep my 2nd target but i'll move stops just a bit above my 4th wave projection.
Was that wave 4? hmmm
Trade closed: target reached: Saw that low volume on the rise, reentered at 24414 and many times on the drop. I call it a day. This is going to retest and possible jumping back, due to the risk I prefer taking profit and waiting for a new opportunity.
Hope you had a nice ride as I had.

I am just here to applaud your observation mate you SMASHED it.
cacus Jamal92
@Jamal92, Really appreciated Sir!
Hmm, was that wave 4?
Yeah , thats the stuff , light that sucker up!!
+1 Reply
cacus Sharecrazy
@Sharecrazy, incoming ;)
I think that us30 will hit 28000
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out