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Small short Dow at 26400 … stop 30000 … limit 18000 ( x 2 )
Move stop to b/e.
Move drop to come but must watch your back, always.
Never give up, never surrender.
A clear five waves down completed in the after hours.perhaps “a” up done or near enough..s1l today for “b” before “c” up into tomorrows turn date..my idea of the whereabouts.may or may not happen?
DOW: short term outlook is uncertain. One option is that the Dow is trying to make a C=A via a falling wedge as shown on this chart (attached). If so, the target is 25,400 area.
Well the Dow is looking like S1L so far.
Dow cash may want to revisit 26400 which would give
the day a slight irregular look … let’s see.Never give up, never surrender.
The “a” and “b” were already done in pre-hours so it seems,so straight up in s1h for “c” to top out between tomorrow and friday. c=a just short of 3000 if it wants to..2997ish from memory.you never know lol.previous high of 2960 is very doable however.lets wait and see,i hope it starts dropping for you sooner than later cim.
DOW: I’ve updated the short term chart showing STD days. One idea here is that a triangle B wave has formed. This would fit nicely with my idea that the market wants a falling wedge to meet C=A in the 25,400 area.
GBPUSD: the Pound rallied back to the 1.25 area as expected, and now seems to be starting to decline in the next phase of the ‘descending wedge’.
Long term the target appears to be the 1.14 area which will complete a very long falling wedge pattern over twenty years.
Once (if) the Pound gets to 1.14 it will become a very strong buy on a long term view. However 1.14 might take many months to get hit. It’s a matter of remaining patient and waiting for the opportunity.
GBPEUR: similar to GBPUSD – it rallied to overlap and is now trying to decline again.
Long term target is the 0.97 area at which point (if it gets there) the Pound will become a massive BUY against the Euro.
Might take many months to reach the target area.
GBPEUR: update of the extreme long term chart which shows the falling wedge situation. Target is 0.97. It isn’t clear whether the wedge will finish there, or whether it has another leg to go. It doesn’t really matter. At some point the Pound will rally massively against the Euro, probably several months after Brexit when the UK starts making independent trade agreements.
It really is remarkable what complete trash the Pound has been over the years – 3 Euros fifty years ago, 1 Euro today. It seems the only reason the UK economy has been strong is because of a constant falling currency. What a pile of rubbish. Still, at some point the situation will reverse – after a falling wedge the upside target becomes at least ‘point b’ which would be in the Euro 1.70 area.
The news bots may have plenty to chew on
with US vs China trade war updates.Never give up, never surrender.
My plan is to set targets for my three Dow shorts
in the 25500 -25750 range. I will not be greedy.We could see some fireworks very soon.
Never give up, never surrender.
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