Dowtrend line and 61.8 fibo level was rejected.
Aditional, an engulfing bearish candle confirmation was appear.
Target: Next support.
SL: Just above latest higher high price.
Keep it simple.
As analysed in the attached chart dow exactly moved as per the technical levels.
The levels in the attached chart are valid for the whole month of July.
This chart gives an insight in to technical setup for the week 13-17 July 2020
Enjoy the setup for trading.
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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...
Dow broke the down trend...
I was short until today. Went long on Semi's.
If the stimulus package proves to be effective and builds investor confidence then I'm inclined to go long here. There are some very good stocks that have dropped 50-80%.
From what I've seen, the package says that the government will pay furloughed employees their salary for 4 months....
Looking at the magical colored lines, it's clear to me from 1975 - 2008 the dow spent most of it's time hugging the red line, launching off it from 1995 and falling back to it during tech bust in the early 2000s.
From 2008 thought it fell below the purple line which I believe is an old support from around 1982-1985 this line line connect all the way to post 2008...
Seems to be flirting with the top of the previous channel. If that breaks, I feel like we could see 24,300-24,500 and if that breaks then 23,500.
Everything here screams to buy some here but honestly, at the rate this is going, it might be better to hold off.
Coronavirus fears are real and I feel we will start to see some sign of recovery if these things...
Dow broke out trendlines to the upside yesterday and also closed above its 100 MA and 200 MA for three days but its 100 MA crossed below 200 MA the first time since 2015 with a divergence of RSI on the daily chart.
The Dow's 100 MA/200 MA crossing down could mean a lot from a long term perspective and we might see what would follow soon.
Dow gaps up opening...
The stage has now been set. We are still missing some of our actors. Yet, the show must go on.
26951 - Ceiling for 2019
21712 - Floor for 2019
That is ALOT OF CONSOLIDATION.
From 2010 to the end of 2017 the average monthly range (High to Low) was between 700 - 1000 points a month for the Dow.
December 2018 did 4267 points
January 2019 did 2471...
The Great British pound vs Singapore dollar currency pair is in a massive downtrend on the higher (daily and weekly) timeframes, and it is forming a symmetrical (isometric) triangle on the lower timeframes. Now it is important to note that there is going to be a lot of noise on the pound pairs for the coming weeks due to ongoing Brexit woes, but sell orders on...
Btc in 2018 has obviously been in a drowntrend. Whats interesting about the price behaviour, is that in every countertrend movement, it seeks suport arround 6100, 6000 or 5800 usd and retraces to 0.618, literally everytime. With that in mind, i expect that the next upwards move (Counter trend movement) will go as far as 6800 and than bounce back seeking the...
Hi friends! Here is a quick update analysis on Tron! From my previous charts, we've determined the climb and the subsequent drop.
So what is next ? It's look like on the 3H chart is formed cup and handle. The worst scenario of this can be a breakout under support level. If the support hold the sellers - we will be witnesses of a triple bottom. And the price will...