NASDAQ Analysis - DOW theory
Updated
Utilizing simple yet powerful DOW theory to spot the trend and find out the best possible entry, exit points.
Looking at the daily timeframe there are series of lower highs(LH) and lower lows(LL), suggesting a bearish trend. Hence a possible short position is there at 10700 with stop loss a little above previous lower high, take profit at 10440 and if this level breaks next possible levels are 10000 and 9600
Looking at the daily timeframe there are series of lower highs(LH) and lower lows(LL), suggesting a bearish trend. Hence a possible short position is there at 10700 with stop loss a little above previous lower high, take profit at 10440 and if this level breaks next possible levels are 10000 and 9600
Note
Mistake in stop loss previous lower high is at 11660 so SL = 11700
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.