After successfully bagging over +1000 points on a recent Nasdaq buy, it's time to switch gears and follow the bearish trend on Dow Jones. The bearish setup is crystal clear in the 1-hour timeframe, as price has formed a bearish bat pattern - a proven and reliable harmonic pattern with a high winning rate.
The trend reversal has been confirmed by a bearish candlestick: a bearish engulfing, signaling that the late bulls have been trapped and the bears have taken control. The icing on the cake is the impending crossover of the 9 and 21 moving averages, which will intensify the selling pressure. Additionally, the RSI has hit a significantly overbought zone, further indicating a potential sharp fall ahead.
I have my sights set on three take profit levels. First, I'm targeting 34150, where I'll be locking in some profits. Next, I'll be aiming for 33950 as my second take profit level. And finally, my target is set at 33650, as I expect a satisfying drop in price.
Get ready to ride the trend reversal and make the bears dance to your tune! It's time to capitalize on the bearish momentum on Dow Jones! 📉🐻💰
Feel free to share your toughts in the comments section, follow me for updates. And dont forget to press the like button if you think this insight was helpful !🚀
Approaching target, i took some profits again :) +600 points
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Sorry for the screenshot from the phone, I'm at the beach
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Guys, I want you to explode the counter of likes. Smash the like button 😁
Psalm 23
1 The Lord is my shepherd; I shall not want. 2 He maketh me to lie down in green [1] pastures: he leadeth me beside the still waters. 3 He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. 4 Even though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me; thy rod and thy staff they comfort me. 5
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my new setup on Nasdaq
Trade closed: target reached
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thanks for the support! youre an amazing community. it gives me a lot of strenght to keep posting qualitative content like this one
hey , as i understand , the air lines dump to ?? nice ,maybe sell and buy again
Thomas_Zito
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@TORNADOF5 the moving averages act as a confirmation to this setup.not only the crossover indicate that the trade is confirmed but they'll act as a significant resistances, ideal to set the Stop Loss above
nice ,maybe sell and buy again