US 30 Entering Bear Market?
Updated
Chart says all. So many contributors with great ideas about what we might expect. Just my 2c. It never goes straight down but makes short squeeze traps along the way. The runup to 24k was a terrific squeeze, rejected at 0.50 Fibo- exactly. Be cautious, short the rallies, don't plunge as it swings wildly and can squeeze any day.
Remember- gaps tend to get filled! It's a 5th wave- might give us an M-shaped pattern with a second bounce from the 50% retrace level- expect unpredictable squeezes. GLTA!
As always, this isn't advice, just an idea; trade at your own risk!
Remember- gaps tend to get filled! It's a 5th wave- might give us an M-shaped pattern with a second bounce from the 50% retrace level- expect unpredictable squeezes. GLTA!
As always, this isn't advice, just an idea; trade at your own risk!
Trade active
Certainly looks bullish but this thing changes like the wind. Let's see where it goes; trading just a hair above the 0.5 Fibo now. If it closes above $24120 would break above bottom of wave 1. A close above wave 1 low closing price $24450 would invalidate this EW model. Prior rallies have been rejected at 50d MA; is close.Trade active
Trading very close to 0.50 Fibo from 3 September, still 200 pips below the 0.62 Fibo from 3 Dec. Buying SDOW now, partial position, to add if it gets higher. Let's see! Exhaustion gap up Wednesday morning. Need confirmation in daily Doji.Trade active
Shooting star. See if we get a pinbar next.Trade closed: stop reached
Price broke thru stop limits and moved above the Fibo, looks like a breakout moving higher to retest TL. See my latest post, target: 25040 before next rejection.
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