📉🦇Bearish Bat Pattern Sparks Market Fears on Dow Jones! 📉🦇
After successfully bagging over +1000 points on a recent Nasdaq buy, it's time to switch gears and follow the bearish trend on Dow Jones. The bearish setup is crystal clear in the 1-hour timeframe, as price has formed a bearish bat pattern - a proven and reliable harmonic pattern with a high winning rate.
The trend reversal has been confirmed by a bearish candlestick: a bearish engulfing, signaling that the late bulls have been trapped and the bears have taken control. The icing on the cake is the impending crossover of the 9 and 21 moving averages, which will intensify the selling pressure. Additionally, the RSI has hit a significantly overbought zone, further indicating a potential sharp fall ahead.
I have my sights set on three take profit levels. First, I'm targeting 34150, where I'll be locking in some profits. Next, I'll be aiming for 33950 as my second take profit level. And finally, my target is set at 33650, as I expect a satisfying drop in price.
Get ready to ride the trend reversal and make the bears dance to your tune! It's time to capitalize on the bearish momentum on Dow Jones! 📉🐻💰
Feel free to share your toughts in the comments section, follow me for updates. And dont forget to press the like button if you think this insight was helpful !🚀
The trend reversal has been confirmed by a bearish candlestick: a bearish engulfing, signaling that the late bulls have been trapped and the bears have taken control. The icing on the cake is the impending crossover of the 9 and 21 moving averages, which will intensify the selling pressure. Additionally, the RSI has hit a significantly overbought zone, further indicating a potential sharp fall ahead.
I have my sights set on three take profit levels. First, I'm targeting 34150, where I'll be locking in some profits. Next, I'll be aiming for 33950 as my second take profit level. And finally, my target is set at 33650, as I expect a satisfying drop in price.
Get ready to ride the trend reversal and make the bears dance to your tune! It's time to capitalize on the bearish momentum on Dow Jones! 📉🐻💰
Feel free to share your toughts in the comments section, follow me for updates. And dont forget to press the like button if you think this insight was helpful !🚀
Trade active
Comment:
approaching TP1, take some profit
Comment:
Approaching TP2 (0.618 FIB), take some profit !
400 points in the pocket ! :) wonderful
www.tradingview.com/chart/ZXyGqVW3/
400 points in the pocket ! :) wonderful
www.tradingview.com/chart/ZXyGqVW3/
Comment:
+500 points in the pocket !!!
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Approaching target, i took some profits again :) +600 points
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Sorry for the screenshot from the phone, I'm at the beach
Comment:
Guys, I want you to explode the counter of likes. Smash the like button 😁
Psalm 23
1 The Lord is my shepherd; I shall not want. 2 He maketh me to lie down in green pastures: he leadeth me beside the still waters. 3 He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. 4 Even though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me; thy rod and thy staff they comfort me. 5
Psalm 23
1 The Lord is my shepherd; I shall not want. 2 He maketh me to lie down in green pastures: he leadeth me beside the still waters. 3 He restoreth my soul: he leadeth me in the paths of righteousness for his name's sake. 4 Even though I walk through the valley of the shadow of death, I will fear no evil: for thou art with me; thy rod and thy staff they comfort me. 5
Comment:
my new setup on Nasdaq
Trade closed: target reached
Comment:
thanks for the support! youre an amazing community. it gives me a lot of strenght to keep posting qualitative content like this one
