Dow Jones is one of my favorite pair and i have been stuck in this trade for a few days, this day i am in a great mood and i would love to share this trade with everyone, the premium channel already bagging relentless, but still my loyal followers have to eat..
With my initial entry at 31680, and TP at 29100 we are currently looking at a massive swing trade with...
Paying close attention to the US indices, and DOW here is showing us good potential bearish price action.
We see overall price has been in the HTF expanding structure, and within that, an ascending channel structure, correcting the price.
Its clear that the price isn't moving up impulsively, rather its moving sideway, consolidation period....
Similar like SPX, I do see the potential reversal from DOW.
We see price is in the overall HTF parallel channel structure, continue to correct the price around the previous HTF all time tops, a double tops price action.
Price formed additional reversal price action with a LTF ascending channel, still correcting the overall move.
US30 broke out and just came down to retest the old resistance level. We are getting a decent push up from this level and can expect a trend continuation from here.
What do you think? Like, comment, and follow!
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the...
Similar like NASDAW and SPX, I do have the strong bearish bias on the indices.
Looking at the HTF, its clear that the price is reacting to the previous all the tops, so a potential double tops in the making.
Last bit of the price action present us an ascending channel, and consolidation period.
This is a good indication that the bullish momentum...
Merry Christmas everyone:
Hope everyone is well and healthy, and enjoy the holiday season as much as we can :)
Back here with another quick educational video on price action structures/patterns. I am going to go into detail on double tops/bottoms type of price action.
Many of you have asked me to elaborate more on what double tops/bottoms truly mean, and...
We're tightening up in a rough and volatile descending triangle.
Sell and buy zones established by taking the first retracement and the lowest price point.
The top of the zone is the lowest price point in the range the last time the market retraced to this area.
If the price enters a zone, study price action to establish a reversal.
For a buy, I’d be looking...