Looking for potential retracement high to Short the indices, with my main focus on DIA currently.
DIA staged a nice ABC-wave rally recovering from major pivot low of 150.5.
Currently looking ripe for a continuation of the underlying major correction from 183-150.
The 175-176 region is ultra significant, comprising of:
(i) previously surrendered H&S neckline,...
Everything is on the chart guys. Fibonacci cluster consisting of 2 retracements (.382 and .50) plus the 100 extension from the previous price retracement. All of this lines up perfectly with previous support/resistance + that we're in a bullish trend.
Good luck everyone and hold your thumbs!
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
OCR appeared on my bullish breakout list yesterday and overall it looks like a good buy opportunity.
Since July price had been experiencing a prolonged pullback. It was not too deep (pulling back to just below the 200dma and 2005 high of $62.50 - yet finding support at $60) but 5 months is quite a long time for a pullback. The stock broke through the resistance...