Long

DOW JONES The striking bullish consistency of the 1D MA50

DJIA is trading on a Channel Up on the 1D chart since late May. This pattern has made two exact Higher Highs and Higher Lows. I want to talk about the importance of the 1D MA50 (blue trend-line) not just within this Channel but even before.

As you see since May 04, the 1D MA50 has been tested 8 times. 7 out of those 8, it held and initiated a rise (at least of +4.00%). The only time it failed was on September 21, but still the price made a rebound on the Higher Low of the Channel Up, keeping it still valid.

The Lower Highs trend-lines play a significant role here. Even before the Channel Up, when Dow Jones broke above a Lower Highs trend-line after the 1D MA50 held, a very strong rally started.

Do you think history will repeat itself? Feel free to share your work and let me know in the comments section!

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Most recent DOW JONES idea:

DOW JONES broke above the 1D MA50. Buy Signal.


Chart PatternsDJIdjiadjiasignalsDOWdowjonesdowjonessignalsHarmonic PatternssignalsTrend Analysis

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