Looking to short the DOW???
Hi guys,
Just another post with the weekly chart and bit cleaner looking chart of my previous idea where US30 may face some selling pressure.
The area highlighted is between 39100 and 39450.
The bearish butterfly has ideal A to B retracement (78.6 is fib requirement)
B to C is not exactly 38.2 0r 88.6 but still in between
and C to D is not exactly 161.8 or 261.8 but does measure between and importantly for my analysis is the 1.27 entry requirement lands in the optimal trading zone that Ive highlighted.
The decline in volume as price has increased is also obvious.
Im hoping that there is enough confluence to suggest that we may be able to land some good trades in the highlighted area.
Thanks again for taking the time to have a look at this post and safe trading all.
Just another post with the weekly chart and bit cleaner looking chart of my previous idea where US30 may face some selling pressure.
The area highlighted is between 39100 and 39450.
The bearish butterfly has ideal A to B retracement (78.6 is fib requirement)
B to C is not exactly 38.2 0r 88.6 but still in between
and C to D is not exactly 161.8 or 261.8 but does measure between and importantly for my analysis is the 1.27 entry requirement lands in the optimal trading zone that Ive highlighted.
The decline in volume as price has increased is also obvious.
Im hoping that there is enough confluence to suggest that we may be able to land some good trades in the highlighted area.
Thanks again for taking the time to have a look at this post and safe trading all.
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