fxtrader66

DOW - US30CFD - Ascending Triangle

FX:US30   Index of top 30 shares on Wall Street
161 10 2
The DOW - US30             - seems to be making an ascending triangle which is a continuation pattern. A pullback to the bottom TL where price could find support, might be fuel for the DOW to breakout of the ascending triangle.

The measured move of the ascending triangle where price breaks out to the upside has a target of 17000
fxtrader66
3 years ago
Updated version of this chart. Ascending triangles typically break out after the 61.8% of the apex, if this is true with this chart, price could correct first part of November and try to stage a rally
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alex.a fxtrader66
3 years ago
What do you mean 61.8% of x-axis or y-axis? I guessed you were talking about x-axis(=time) but, just want to make sure.
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fxtrader66 alex.a
3 years ago
This site explains patterns in detail. Good read on weekends to get familiar on different patterns. http://thepatternsite.com/at.html
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alex.a fxtrader66
3 years ago
It is not about the patterns but I will read it, though - "typically break out after the 61.8% of the apex" here you are telling me 61.8% of the price of 61.8% of the time wise fibonaci? Breaking of the timing or breaking of the price -
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alex.a alex.a
3 years ago
There is a mis-spelling. you are telling me 61.8% of the price "or" 61.8% of the time wise fibonaci?
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fxtrader66 alex.a
3 years ago
Yes, its using fib time cycles. Many traders only look at fib price levels. When a fib price level is in confluence with a fib time cycle, there can be a reaction at that point, as in a trend change or confirmed continuation of the trend..
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fxtrader66 alex.a
3 years ago
The article explains ascending triangles in detail. Time wise they can breakout at the 61.8 inflection point, up or down.
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alex.a fxtrader66
3 years ago
Oh, time-wise ~ "Upward 70% of the time and 61% of the way to the triangle apex (upward breakouts) and 62% of the way for downward breakouts." Thanks -
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fxtrader66
3 years ago
ES showing an inflection point... rip or dip?
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YR
2 years ago
Hello,very nice work....:)
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