DOW JONES The striking bullish consistency of the 1D MA50

DJIA is trading on a Channel Up on the 1D chart since late May. This pattern has made two exact Higher Highs and Higher Lows. I want to talk about the importance of the 1D MA50 (blue trend-line) not just within this Channel but even before.

As you see since May 04, the 1D MA50 has been tested 8 times. 7 out of those 8, it held and initiated a rise (at least of +4.00%). The only time it failed was on September 21, but still the price made a rebound on the Higher Low of the Channel Up, keeping it still valid.

The Lower Highs trend-lines play a significant role here. Even before the Channel Up, when Dow Jones broke above a Lower Highs trend-line after the 1D MA50 held, a very strong rally started.

Do you think history will repeat itself? Feel free to share your work and let me know in the comments section!

Please like, subscribe and share your ideas and charts with the community!

--------------------------------------------------------------------------------------------------------

!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> AxelShadah

--------------------------------------------------------------------------------------------------------


Most recent DOW JONES idea: