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Dow futures low is the cash low.
Monday S3L did not close at or near the low
and was a warning for today.After spill down the S4H may give some hope for bulls.
I have wednesday as bearish.
Never give up, never surrender.
Small long Dow at 27400 … stop 26000 … limit 28500 ( x 2 )
My final attempt as it does go against my tue / wed bearish prediction.
Never give up, never surrender.
Small long Dow at 27400 … stop 26000 … limit 28500 ( x 2 )
My final attempt as it does go against my tue / wed bearish prediction.
Closed at b/e
Never give up, never surrender.
I think it’s clear that the depth of this sharp correction negates my ‘big five up’ theory, and we are back to the alternative ‘rising wedge’. If so, then we have just completed a ‘three up’ as part of that wedge. Chart will follow.
The Bradley caught the top on Nov 30. Here’s the scrappy combined Bradley chart for 2019/20. If we ignore the ‘wrong’ size of market movements, we can at least conclude that the Bradley was predicting the ‘highest point’ on Nov 30. Now it’s suggesting a correction in three waves into mid-January. That would fit with my rising wedge.
Dow: this is my original rising wedge chart which suggested a peak at or near 28,100. I think this is the likely route. Notice that from here a three wave decline back to 27,000 or below would ‘fit’ with the Bradley idea of a correction downwards into mid-January.
GBPUSD keeps trying to break upwards through 1.30 resistance. A clean break will likely produce a sharp move higher, perhaps with a later retest from above.
However until that break comes there is also the risk of failure.
I remain long with a small/medium position.
Dow: need to be very careful here – the drop so far doesn’t have a clean fib relationship. Sometimes (but not always) this means there is another wave to come, usually equal to 0.618 of the existing drop. By sheer coincidence (or not) another 0.618 down from yesterday’s close gives exactly 27,000 as a target.
GBPUSD: sold my long position at 1.3044. Made a reasonable profit. I think it wants 1.32 but will/might need to retest 1.30 area from above. If so I’ll look to go long again.
I think a deal will be struck in the US …
… Trump will not stand for reelection !Never give up, never surrender.
I think your right hatman … this needs more time
to evolve into your pattern of choice.I will hold my Dow 27700 short … no time limit.
Never give up, never surrender.
Small short Dow at 27700 … stop tba … limit 27000
Hold on there boy … my timing project
says Dow futures will exceed 27700 in
the 22:35 – 23:35 gmt window today.I will close now for +5pts and have to
‘wing it’ for a higher short entry.Never give up, never surrender.
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