Dow Jones, like the S&P, are destined to rise before the long-awaited correction. Judging by the volume of the past month or so, large bets have been placed on the long side. As for the past trading day, the large volume bar was a pseudo-indecision bar. I'll be on the sidelines for right now, as I would have entered at the completion of the Gartley that formed.
Idea is based on a combination of EW theory and median line analysis. The rationale behind this setup is shown on the chart. Unfortunately due to the dynamic nature of my TA I cant give you a fixed stop loss for the LONG setup. Use the RSI and watch price action to determine where to go LONG!. Please zoom out to see the pitchforks which I use.
Idea is based on a combination of Elliot Wave theory and median analysis. The rationale behind this technical analysis is shown on the chart along with specific targets and stop losses. Good Luck!
1.Deep bearish cypher 2, AB-CD 3. RSI overbought with divergence 4. 1.50 even handle 5. Fib. cluster