
Dow Jones Industrial Average Index forum



We just came back around and touched the same level on 9/04 mid Asian Open and London open. TODAY might be the only day, right NOW, to draw our hi for the week + this trend. Adding a fib to their momentous sell move yesterday LDN close, you can see we found Equal Highs at this specific level. As far as volume profile is concerned, we are trading HIGH sell orders at the previous Value Area Low...
My bias is strictly selling. Some profit could be made of short-term buy positions but the more profitable ones will be sells so long as we stay under 45,728... #GRANDCROSS
Amen, God bless u. 🤲🏽✝️👥++++++++

The bulls can now resume their bullish trend upwards.
*Take Profit Projections to the Upside:
45,590 - Major Pivot High
45,683 - Swing High on the 4-Hour Timeframe
45,730 - Swing High of the Hourly Timeframe
45,751 - Swing High & High of Inside Day Pattern for a Breakout on the 4-Hour Timeframe

I wrote earlier this month about an Anchor Bar that's a very tall candle created on high volume and is a climatic move. We have a ginormous Anchor Bar that formed last Friday (identified on the chart). The bar's high is at 45,689 and low at 45,203, which comes to 486 ticks (points).
What's the big deal? Well, an Anchor Bar can contain price action between its high and low until a breakout from one of its ends. If there's a breakout at the high of the Anchor Bar, that would be higher than 45,689. And, if the breakout is at the low end, it would be lower than 45,203.

See the outline on the Hourly chart below.
Last's Friday's ridiculously tall bearish candle created the 1st leg that was the long bearish trend and what we have now is the last and 4th leg that is the long bullish trend.
