here my Idea about the actual world economic situation, the DJI as example. Last month, I did a similar TA with the German DAX index .
I think we are at the top of Bulls nearly neverending run.
Black channel: since last economic crisis from 2008 until today.
Wave D: last upper wave in this channel: ( sign )
Blue line: marking the double top: ( sign )
Volume/ Price - divergence: ( clear sign )
pink channel: new with the formation
MA: about to cross
If we see price breake under the big black channel and followed by a retest, than we could expect a massive drop . But lets at first see what the next weeks will bring.
Actually we see the past days, that the bulls try again to prevent the ineviteable. So, day trading is very difficult and classical TA within a day is complicated, nearly impossible. So take care.
As always, this is no trading advice, just educational. Trade safe and on your own risk.
All the best for ya all,
A Like and a Follow makes me happy.
2 very interesting candles the past two days.
Two dojis in an row.
For me again a sign of the neverending pump of the greedy bulls. ---> But with no succes anymore to print a clear green candle. Markets are all under pressure, I do think, similar to my above main TA, that we are near to a recession.
Bye to ya al outside,
Chart says yes, RSI overbought, and divergence.
Lets see what happens tom.
Okay, DJI went up a bit more than expected, but now made a triple top, to the ATH, and today it got rejected significant. I do see now the expected move downwards, as in the original Idea presented.
I will update this now frequently.
Stay with me, Sascha.
Trade safe and on your own research, this is no trading or financial advice.