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Very bearish price action and pressure
Slowly waving market looking for a direction to break out
Very bearish waving market without any kind of pullbacks or bullish pressure.
Looking for a...
In 2000-2009 a big correction pattern took place. (C) = 161.% of (A)
In 2009 a big bull market began.
5th(purple)wave = 100% 1st one = 18267, which completed ||| wave extention.
Now DJIA is inside V wave of (|||).
short-term buy targets to (3) red wave are: 21295(major) and 22291, which might be reached in March.
after that I expect sideways/bear market, which...
Big players made e few false movement yesterday to grapp more "small fish" and to kick off stop losses of most intraday traders.
We can open BUY in marked Zone if the price will make a pullback to it.
Potential profit will be in 3 times bigger than risk.
Don't forget to use proper risk magament!
We can open BUY if:
- The price will will make a fake breakout of lower border of the downward channel.
- Daily candle will close above border.
Potential profit will be in 3...5 times bigger than risk.