Short term Elliott Wave view on Dow Jones Future (YM_F) suggests that rally from March 9, 2019 low is unfolding as a 5 waves impulse Elliott Wave structure. In the chart above, we can see wave (2) ended at 25448. Now wave (3) ended at around 26507.
Up from 25448, wave 1 ended at 25823, wave 2 ended at 25744, wave 3 ended at 26289, and wave 4 ended at 26126 and...
I m shorting this level if prices fail to break 25.260-300 which seems to act as a strong resistance for now.
Trade FXCM CFD Entry: 26.290 - TP1: 26125 - TP2 26860 - sl:25340
Short term support and continuation levels highlighted. Be aware that equities failed to rally on good news from China today. This is a signal of caution.
Near-term support level and continuation highlighted.
Key for this trend will be US earnings again today (and all week) a well as China GDP data (tomorrow).
YM Sell reason :
Breakout pullback continuation situation. YM came to resistance point, expectancy is big bull ,but first it must to come back to trendline.
Possible buy from trendline big time :-)
But first short now.
Good Luck!
Hello my Friends, Traders and Interested,
this TA is part of my bigger picture TA from the last week, but I will do single TA herewith, so everybody can see it , if interested.
I am very bearish on all Indices for several weeks. Bulls are still fighting a crazy ( Ponzi?) game past days. Now I do see a small H & S (number 1), which could start the real bear -...
With a convincing Pivot Stack in place the upside looks like a cap is in place for the near term price.
However, the price will need to confirm the weakness is definitive by breaking the swing low bullish Hammer candle of March 8th.
Go short at 25198 and place a stop loss at the top of the Pivot Stack at around 25869 with a profit target of 23893.
This makes...
1.Price did come to important resistance level.
2.Price did break major trendline
3.Price did break short term trendline
4.Price create pulback to 61.8 - 78.6% fibo retracements , 3rd wawe of eliot start
5.Price close 2 times below the pivot, 2 red large candles.
Possible targets half 38.2% and 50% fib levels .
Good luck! :-)
Hello my Friends, Traders and Interested,
here my Idea about the actual world economic situation, the DJI as example. Last month, I did a similar TA with the German DAX index.
I think we are at the top of Bulls nearly neverending run.
The Lines:
Black channel: ascending channel since last economic crisis from 2008 until today.
Wave D: last upper wave in this...
The Mini Dow Jones has a Pivot Stack in place that is supportive for a higher move.
The bias is to the upside as long as the Pivots hold support. If the price can break out of Friday's high, then a rally could ensue from there.
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YM1!
