The US benchmark index Dow Jones has formed a Flag pattern along with a Rising Wedge pattern.
With both the patterns happening at the same time one should stay neutral and wait for breakout above or below the wedge pattern,
to get confirmation of the next move. Though the overall trend is still bullish but in the current scenario, its prudent to have...
Waiting for the pair to fully form the bull flag pattern to enter long.
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All governments globally have been generous in providing decent amount of stimulus to their respective countries as compared to their GDP's. What makes me wonder is that even after such huge amount of stimulus many countries have shown flat GDP growth or economic contraction. What if these stimulus were not provided at first place? The economies and the global...
Price is been clearly forming a 2nd bear flag and highly suggestive of continuing to go short.
Will wait for the GO-to-setup and then enter short.
Please note
Just knowing the next expected move is not enough to be profitable in the long term.
You need to know when to add more multiple calculated positions and also effectively manage the trade.
Remember my...
Price is forming a rising wedge pattern and an ascending channel inside it suggesting a pattern with in a pattern structure.
It has also done a multi-touch confirmation.
Hence looking to enter short.
Simplicity is key to be successful in trading.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on...
Dow Jones Industrial is most likely to recover 8-10% from the current level. I belive that it has formed short term low exactly bounced back from Fibonacci 0.618 retracement level. Also it has very strong support near 23.9K levels.
The US benchmark index has given a rounding pattern breakout on hourly chart.
Though the breakout was given just an hour before market close on 4th Dec 2020, but today's gap up has continued the upside.
As per the bullish breakout of the pattern, dow jones can touch app 30850 - 31000.
And as per the current chart scenario one can buy with a stop loss below...
