I applied Elliot Wave, Fibonacci and Trend Analysis on the Monthly chart of DIA. RSI of DIA was creating a negative divergence from 2018 and signaling for a huge correction ! So Market was searching a correction point and Corona Virus helped the market for that. Now question is how much correction will happen ! Here there are two reasons for correction- 1....
Friends, thanks for your likes and comments! Good luck with trading! will work out the formation? It's perfectly drawn by the rules. if the publication collects 100 likes I'm gonna do a training lesson on this pattern.
The price reached the resistance line 1.122 and began to decline. I predict a decline in price to the support line, then an adjustment to the resistance line and then a decline to the support level.
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at his particular pair we spotted a down trend before our signal was given. and if you pay close attention to Fibonacci retracement you can see that we hit 38 level on it so after candle confirmation we tried to go with previous trend and as a matter of fact we hit the target soon after that always going along the trend is the best strategies of course you need...
Long Between: 410.00-525.00 Target Level: 800.00-890.00 Stop Loss: 380.00 Strategy: Daily/Weekly Support Level. Risk/Reward Ratio: 1:5
Markets just bounced off the support level now going bullish towards the resistance level , Should be a Strong BUY
well you can see there has been a very strong downtrend, when every the 101.671 level bullish action happens based on past performance so a buy order would be ideal. TP and SL have been provided. Profit will be collected when price retraces back to its original resistance. Price has officially gone under a 25 EMA in the past