A Dow "Day" Deal
Good Morning Dynamic Traders!
A glance at the Dow Jones may have revealed a potential profit opportunity for the day.
Although we have witnessed a sturdy downtrend since October 2007, the weekly chart clearly confirms that price has arrived at a support band fortified by the zero figure and wave 3 fib cluster.
The daily chart (below) clearly displays the same hesitancy as price oscillates in a range bound manner.
Price is deliberating a trend line resistance while the triangle's grip is pressurising an imminent response.
A glance at the Dow Jones may have revealed a potential profit opportunity for the day.
Although we have witnessed a sturdy downtrend since October 2007, the weekly chart clearly confirms that price has arrived at a support band fortified by the zero figure and wave 3 fib cluster.
The daily chart (below) clearly displays the same hesitancy as price oscillates in a range bound manner.
Price is deliberating a trend line resistance while the triangle's grip is pressurising an imminent response.
Dow Jones daily chart Advanced Get
A closer look at the 4 hour chart below presents some clarity.
The 1 2 3 top formation at a primary fib level may evidence price vulnerability for some short term profit.
Further confirmation must be sought from the lesser time frames to determine the stamina of this set up and a suitable entry point.
Prudent ESLT is essential.
A closer look at the 4 hour chart below presents some clarity.
The 1 2 3 top formation at a primary fib level may evidence price vulnerability for some short term profit.
Further confirmation must be sought from the lesser time frames to determine the stamina of this set up and a suitable entry point.
Prudent ESLT is essential.
Dow Jones 4 hour chart Advanced Get
Judicous Trading!
Saba Jackson
Labels: dow jones
posted by Saba Jackson @ 11:27 AM
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