WXY Correction still in progress- Danger Will Robinson!
Updated
In a WXY 3-3-3 corrective wave we expect 2 more waves in our chart to complete the formation.
Today Dow touched the midline of channel shown in pitchfork, but 0.382 Fibo could be a bottom, but rarely is.
In the cup-and-Handle formation we expect a decline to reach ~0.50 Fibo of cup, still a bit shy and looking for prices in the mid- 24800s.
We might be in for more volatility followed by choppy consolidation, look out traders- be cautious!
This is not investment advice it's just for education. Good luck!
Today Dow touched the midline of channel shown in pitchfork, but 0.382 Fibo could be a bottom, but rarely is.
In the cup-and-Handle formation we expect a decline to reach ~0.50 Fibo of cup, still a bit shy and looking for prices in the mid- 24800s.
We might be in for more volatility followed by choppy consolidation, look out traders- be cautious!
This is not investment advice it's just for education. Good luck!
Trade closed: target reached
Big green candle on a high gap up today = danger signal Will Robinson!Go look back at the charts and find at least 3 examples where this behavior is followed by a Harami cross and a big red candle. Another buying opportunity will present itself soon. I closed all positions now sitting on cash. Good luck!
Trade closed manually
Looking for a pullback perhaps a Fibo 0.382 retrace to re-enter long. This might be Minor Wave 1 of Primary wave (5)(V)(v). Waiting for confirmation in price action.
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