The Dow Jones Industrial Average (US30USD) has officially posted a 10% drop from its high on the 03.10.18 at 26950. It is now classified as an official correction as illustrated by a 10% drop.
The relentless sell off in US equities shows that there is still severe trepidation in markets. Furthermore, the similar aggressive sell-off in all other global equities...
As expected, the Dow, when compared with the SPX and the NASDAQ to name two, presents the most bullish of the bunch. The recent drop was severe, but no long-term damage has been done. And while the SP500 and NASDAQ closed red last week, the DJIA closed green. This is telling us that though profit-taking has set in, bullish fundamentals underpin this...
The colored boxes represent Points of Interest and Vibration Levels, based on Waves measurements and Fibonacci calculations.
• Red – Bearish Breach
• Orange – Strategic Levels & Vibration Zone
• Blue – Extension & Points of Interest
VIX (Volatility Index - CBOE) is showing signs of another "spike" in volatility sitting around the corner.
This would translate into a "fear" period.
US indices are showing wave counts which indicate that the current correction on the up-side might just finalize.
An Intermediate Degree (C) leg would be in focus for the completion of the current Primary Degree...
I just draw on charts and make pips don't know anything else.
Enter on shorter time frames such as Daily/4HR for precise entry points and let the trades run.
Risk no more than 2% of account.
COUNT PIPS COUNT PIPS COUNT PIPS NOT MONEY.
THANKS
SULEMAN
The dow looks like it will turn bearish.
Mac- D is turning down and we are about to break down form the symmetrical triangle. A break to the upside which woudl ususally be the most likely probability looks like it will be rejected.
My personal indicator suggested two short entires on the pink and red candle in the 25k range.
I will be adding to my short positon...
4H momentum broken on US30USD with removal of one demand zone, today's move erased previous day's gains.
To hop back on the trend, I anticipate a retrace back down to 23078 for the next leg up (daily demand zone) if the Dow has any more steam left.
As always, don't risk more than 2% per trade and set your stop losses to protect yourself. Also remember, this...
Price moved to the initial supply level, which looks like the ultimate " gap fill " of this complex pattern. Cautious short possible, or wait for confirmation ( see level on chart ).
