Looking at this one day chart it looks to me like DJI is forming a Bearish Bat Harmonic. For me, there is a tight PRZ with a .886 D point of a Bearish Bat Harmonic, a 2.618 ABCD completion and a 2.0 AB ext. I will be looking for a reversal here, around $37,400. My whiskers are telling me that we could trend up until Friday and maybe see a dump by Monday. The...
Most recent ABC was a bearish correction but it looks like the bulls canceled a retest of that bottom trend line and is now breaking out.
Thinking the NDX has been leading the dump and the DJIA & SP500 will dump harder % wise while NDX starts to lead the recovery IMO
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
US30 took a significant drop over the past couple of days. Price is approaching a historically significant key level on the weekly and daily (purple line). Note price is also hovering around 50% and 61.8% fib levels. Check out the trendline as well. Also must pay attention to fundamentals. Watching for potential rebound.
Good fit from last pullback. Yesterday was not severe, could easily see more.
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron