DJI is now rading in he new short trendchannel
i have marked them with red lines.
These channel is split in a smaller more shorter range
i have marked ht upper line of that part of channel in purple and the its own lower side , marked in red.
So in a few words:
Between the lower red and the purple line
has been the shortest range.
1 Time Buyers have tried to...
In Addition if we add a Regression Channel these channel indicates us a long Position, cause Channel is going higher.
We have to check on Monday at end of the day whether that continous or not so adjust the Position maybe.
Big companies already done reporting earnings (which is 1 of the reasons for this rally), the closest noticeable big company - CISCO $CSCO reports Feb 13, apart from that no big dogs in sight for DOW
Currently watching rising wedge with targets: ~25k; ~24750; ~24650
losing 50 rsi on the daily and looks like toppy hanging man candle formation if the daily were to end now. could end up being wick but we lost the 50% retrace level we previously brokethrough.
on the bright side we did pop back up into this descending channel. while still bearish, it could range up quite high. thought we would see a bit higher in the indices...
Last impulse of the cycle. What if DJI hits 30k ? What if the final move will be the greediest one? Everyone will be hungry for profits before rate hikes and earning of the companies squeeze. If - Then - $$$. Good Luck
I have been waiting for this for such a long time. Finally we made a breath down so we can hop again. DJI world market stocks correction. -10% value. 100MA support. 38.2%FIB trump Rally. RSI oversold with signs for a correction. 78.6% FIB last leg of the move. Fundamentally everything looks perfect. Go for the 30K. 3 positions sizes with good RRR. Good Luck