A bunch of trapped buyers above the monthly high got caught in the recent selloff : creating a great sell zone for shorts.
Dow - Still in short from 26880 level I believe 27000 is now Roof of this market. for now
Dow Sell position active. Target down to 24k area where we see I have been playing harmonic setups, Dow short sell downto 24k would be nice for a stop and reverse last one worked well as it approaches a double 76.8% support area. Current trade I have a hard stop above 27150 incase some spike before heading my work... R.R makes sense for allowing for such r.r (for...
Looks ok to me. I'm in short from this morn Recent bearish gartley completed. would love to see a test of 26500 area eventually breaking lower towards the upsloping TL. strong close above 27000 on the daily changes things for me. but r/r is there for SELL. and I have a tight stop above 27000 (little looser than normal incase we see a stop hunt)
Wanted to enter this trade earlier at bearish gartley completion but was busy working on other markets. I'm looking for a a short position with stop above 27000. targetting the up sloping trend line, hold for lower if it breaks.
DJI has formed a double top, a break below will signify more downside.
🤔 Will the stock market drop or fly high... Let's take a look! What is the big V pattern and what does it represent? I want you to focus on the structural support that we have drawn out connecting the 3 green arrows bottoms. This is a very key level of support that we want to take very seriously! We are all aware of the massive market selloff that we had in early...
Well, it looks like we could see $21,700 if we break that neckline of $23k. Simple head and shoulders in the works here.
We broke downward out of the rising wedge so beautify. It looked like the top of the B wave was in until price decided to make a HH, which may be a potential bull trap. If we can range between 22k - 24k, my EW count will still be in check. A break below 22k will confirm my count and I expect to see many bears entering here. Another wave up would launch us to the...
I think we will see DJI back to 20k or lower in the coming weeks, expect economic calamity soon. Banks are insolvent, pensions are unfunded, and baby boomers aren't spending money like they use to.
As you can see from the chart, 24k Dow should be around the peak before we begin the drop back down to 18k, and potentially 15k as a final price point for the DJI.
I think the general consensus is still to buy the dip. You will see 18K this year I do believe. We are way over due for a recession, quantitative easing wont save us forever. Our biggest trading partner is a ponzi scheme and sick with corona... but this is only speculation and by no means financial advice.
Analysis - Let's do it again - Drop in coming - If price enters the 'RED ZONE' Risk:Reward will be 1:4. 'Diamond' FIB ABCD. let's go!!
Price has reached TL resistance and I expect bears to come in and drive price back down. 1D: As you can see as price continues to make a new high, the indicator shows price making a flat; this may suggest bearish divergence.
I AM Selling FX:USDOLLAR AT 12400 And puttting my target at 12365 ,wish you the bst
We clearly finished in the red today while being mostly flat for the majority of the day. This shift in negative volatility in the last hour will likely continue slightly tomorrow at open, with increasing downside risk before the Fed speaks, and likely sell-off algorithmically hard when his talk completes. If the Fed is dovish on cuts for September, this idea...