UPSIDE JOURNEY OF DOW JONES STARTED TODAY 1. DOW MADE UPPER END OF RED CHANNEL IN FIG. FEW DAYS BACK. BUT IT WAS SEARCHING THE LOWER END OF CHANNEL WITH PERFECT ANGLE . TODAY THE LOWER END IS FORMED. LOCAL DISTIBUTION IS GOING ON. VERY SOON JOURNEY FROM CHANNEL END TO WHITE ZONE OR UPPER END OF CHANNEL WILL BE COMPLETED. 2. AS YOU ALL KNOW STOCK MARKET IS GAME OF PROBABILITY SO ITS LANGAUGE IS CONSIST OF CONDITION (IF) THAT YOU SHOULD KEEP IN YOUR MIND. A BLUE COLOR LINE IS GIVEN THAT IS SUPPORT IF BREACHED THEN LONG SENTIMENTS WILL CHANGE TO SHORTS. 3. THE LONG STRUCTURE WILL DISTORT AND CONVERT INTO SHORTS. ONE WHO IS ABLE TO SWITCH ONE'S SENTIMENTS AT RIGHT TIME BECOMES WINNER OF TRADING. 4. THIS WOULD BE THE FINAL UP JOURNEY. AFTER THIS LEG DOW WILL RESUME ITS INTERMIDIATE TREND . 5. LEARNERS SHOULD UNDERSTAND THE FORMATION OF CHANNEL. IT IS ALWAYS NOT ESSENTIAL TO FIND CHANNEL FROM LOWER BAND. SOMETIMES LOWER IS FORMED LATER. REST MARKET WILL DECIDE. YOGESH VATS
Sir, I see Dow has reached the white upper line, does this suggest the Dow will start its journey back to Blue support line and when that taken-out down trend resumes? OR the structure has changed and there is still steam left Dow to go higher?
Thanks for your Analysis which helps people like me who want to learn this skill of Chart analysis and trading.
yvatsji
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@vaibhava135, yes till now you understood correctly.
sanketsudan
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I think I post it on the wrong chart! I was referring to Nifty! My apologies!!!
sanketsudan
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Hats off to get it so very correct! Despite all my misgivings about DOW you are bang on target.
Thanks for your Analysis which helps people like me who want to learn this skill of Chart analysis and trading.