Short/Add to Short when it touches the top of the channel (Andrew's Pitchfork), Reverse Position (Go Long) when it touches the bottom of the channel (Andrew's Pitchfork) Until we reach Primary C Wave Termination Point - 5 Waves Down - confirmed by MACD Bullish Divergence.
Wave B Complete. High Probability Trade. Use Stop Loss. If I am wrong - minor loss. If I am right, huge potential.
Hi, Notes are on the chart. Thanx, Riaan
All notes are on the chart. Thanx, Riaan
Expect some activity above the trend line - basically becomes a bull trap. Bulls buy expecting BIG profits, only to have their dreams dashed. New Short oppportunity. Riaan
The Futures contract hit the bottom support line of the contracting triangle PERFECTLY - then reversed. Wave b of E will be a small drop in price, which should then reverse back up to touch the upper trend line - after which, the price should proceed, with speed, downward. All the best. Riaan
Hi, Short @ 24,462. What if I am wrong - then Stop Loss @ 24,501 Happy Days, Riaan
Hi All, Sure has been educational trading this Triangle. God Speed, Riaan.
Hi All, The Dow reversed it's 9 Year Bull Run in January 2018. Wave 1 Down gave us the base of the Corrective Range. Wave A set the high of the Corrective Range. Wave B is complete. Wave C is happening now. Upon Completion, The Bear Trend will continue, with the initial Target surrounding the 20,400 level. Good Luck all. Riaan