DOW scenarios bull or bear?
Updated
I would favor shorting, given the current fundamentals.
So, my first trade is right there on the chart. tight stop.
Possible 12345 formation, currently on wave 2 to be finished at the short entry level.
One thing to consider is that bullish cypher pattern (blue).
That's why I state two possible scenarios.
Excellent risk/reward, still.
Remember we are moving into weekend, so you might want to consider waiting for market reopening on sunday (futures or CFDs).
Good luck!
So, my first trade is right there on the chart. tight stop.
Possible 12345 formation, currently on wave 2 to be finished at the short entry level.
One thing to consider is that bullish cypher pattern (blue).
That's why I state two possible scenarios.
Excellent risk/reward, still.
Remember we are moving into weekend, so you might want to consider waiting for market reopening on sunday (futures or CFDs).
Good luck!
Trade active
Shorted at 24607, just as first entry.Same targets.
Will monitor and consider reentering at higher levels.
Good luck.
Trade active
Reentered at 24775.Note
Short squeeze might be ongoing now, low volume. Keep your stop losses on your watch, if low volume continues i'd move my stops further up just to avoid tempting the market.Note
Stops at 25010 just to be safe. Let's see how much this short squeeze can go. Still under control.Note
Cost averaging at 24924.Chart, targets, stops, updated.
Note
Looking good.Tariffs stuff, you know.
Note
This is huge, China selling.Note
Expect a bounce here, but just have patience.Note
Closer look.Is the flag broken? If so, 24500 incoming.
Note
Zooming out, pinbar on daily.Note
Updating this thread.Nothing too crazy for now. Reaching new overbought spots, overall picture and swing strategy:
Note
Shorted 25077.Note
We are going for the big price here.So, keeping it up, pending short at 25264.
Still at overbought situation, heavy, a correction is due.
Rising wedge, brearish.
AB=CD formation completed.
Shorted at 25230.
No pain, no gain.
Note
Wedge broken. Turning around.
Note
Oh well... way too early, poor counting.Current situation, cost averaging. A total of 6 contracts, 24607, 24781, 24926, 25077, 25171, 25388. The last sell stop wasn't executed by a small price difference so this trade will be the tougher one.
For chart clarification, i'm unifying the trades at a single one on 6 contracts at an average price of 24991. Currently at a loss. My plan is to move my stops to BE as soon as I see a good movement on the positive.
Chart updated.
Have a nice weekend.
Note
Hopefully, if this was a breakout from the past triangle, it is quite probable that price could get to retest that broken trend line (50% correction). Meaning there's good chances to close this whole trade at a good profit, or, in case I see good dynamics developing, i'll let it run until the final target.Cheers
Note
Quick update, tough trade as stated before. Still alive tho.Chart updated with analysis and counting.
Note
Some things pointing towards a correction is coming.Massive pro gap.
Bearish gartley
Triple combo wave, second X completed.
25000-24700 levels highly probable.
Note
Pro gap signal working fine so far.
Related publications
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.