Short

Hellena | DJI (4H): Short to the support area 37616.32.

Updated

Dear colleagues, having reviewed the waves I assume that now the price is in a big correction and I expect that the price will continue downward movement to the support area 37616.32 (completion of the wave “C”). Before that a small correction to the resistance area 38978.81 is possible.

Manage your capital correctly and competently! Only enter trades based on reliable patterns!

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The price has started to move towards the target, but I still expect the price to reach the resistance area 38978 (wave “b”). In this way we will be able to enter a short position more favorably.

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Dear colleagues, the price actively continued its growth to the resistance area 38978. I expect that in the coming week the price will reach it and then start moving towards the target 37616.

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After yesterday's uncertain movement, I can assume that the high of 38739 will not be updated. I count on the beginning of downward movement to the support area.

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Price did update the near-term high of 38739, so I am only considering short positions at this point. Even if the high is updated again - it will be an opportunity to enter a short position again.

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Colleagues, the price has almost completed wave “b” 38978. I expect a downward movement soon.
So at the moment I am in search of an ideal entry point for a short position.

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And yet the price has reached the resistance area. From now on, all my thoughts are only about short positions.
Of course, wave “b” may update the maximum a bit, but it does not matter much.

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Colleagues, last week's news backdrop changed plans in a big way. This applies to the DOW index as well.
Of course the price is in the area of the end of wave “b” and I hope for the beginning of the downward movement, but I fear that the wave will make a correction and go even higher.
In this case, I will strongly recommend that trades should be set trades to breakeven. This way we will not lose anything.

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Colleagues, and again the price updated the maximum of 39101, then flew down. I believe that the news did not affect this forecast much. I also expect the continuation of the decline to the targets.
To begin with it is necessary to overcome the level of 38451.

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Dear Colleagues, I believe there is a possibility of a price reversal in the coming week, but I am not canceling the forecast.
The price has passed 50% of the way to the target.
I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).

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Price is moving again in the range of 39120 - 38307.
I expect the price to exit this range in a downward movement.

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Colleagues, this week it will become clearer what will happen. Price may continue to move up and that will mean that price is actually in impulse. This means that the price is in a minor wave "3" and it will go far up. But I expect the downward movement to start.

Hellena_Trade

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