There are two deep crabs on the monthly DJIA chart with the largest spanning nearly 10 years. That puts us right inside of a massive harmonic potential reversal zone. IF this PRZ holds we could see a very deep retracement of the bull run of the last 7 years. HOWEVER, if this harmonic reversal zone fails by becoming support, then we could definitely see higher...
We can see that price is currently in an uptrend, heading to 1.0980: a key level, 0.618 of the latest weekly swing down, and completion point for an AB=CD pattern. Looking for a daily candle signal at this zone to enter any shorts, riding the wave up until then.
Greetings folks, Look for breakout of this flag to a support level. Support can mean anything or nothing so be cautious when price come to that level. wait for breakout ^ Good luck....
EURUSD Beairish 5 Expanding Trigangle Finished
Trends like these are excellent opportunities. The momentum is up, and we have a nice sideways correction to provide support if the pair breaks out. This is on the watch list for the week.