'Trump didnt buy Bitcoin so he pumped the dow'
Updated
Interesting correlation between the cycles leading up to the 2008 financial crash and the cycle the DJI is currently in the process of completing. This time around the Parabolic curve and impulse angle appears higher, suggesting a possible top in the dow. This coincides with the RSI strength (set to a loose parameter for regular markers) being weaker on this second impulsive leg of 2018 - a move regularly suggested to be bearish in the average traders handbook.
I have cloned and flipped fractals and joined up; assuming we are market top. the H&S pattern created look near harmonic and a perfect point for the masses to go short - on the right side of a shoulder. I prefer to mix things up a little, predict the future and attempt to call tops wherever possible finding divergences and weaknesses in candle formations.
This position bias is Quite clearly short with the intention of playing the volatility on the initial leg down. looking at a target of 0.50 Fibonacci - (14375.0) - Failure of this becoming support cause shorts to push harder and the price to decline further to 0.385 - (11850.0) This would put the chart in bearish momentum through the 2008 peak and towards the 2000 peak price.
Leaving geopolitics to one side is necessary to maintain a clear thought processes however one cant forget the correlation between current turmoil and potential for downside chart movement considering the parabolic move and 10 year move to the upside. Downside rally imminent.
Basil
I have cloned and flipped fractals and joined up; assuming we are market top. the H&S pattern created look near harmonic and a perfect point for the masses to go short - on the right side of a shoulder. I prefer to mix things up a little, predict the future and attempt to call tops wherever possible finding divergences and weaknesses in candle formations.
This position bias is Quite clearly short with the intention of playing the volatility on the initial leg down. looking at a target of 0.50 Fibonacci - (14375.0) - Failure of this becoming support cause shorts to push harder and the price to decline further to 0.385 - (11850.0) This would put the chart in bearish momentum through the 2008 peak and towards the 2000 peak price.
Leaving geopolitics to one side is necessary to maintain a clear thought processes however one cant forget the correlation between current turmoil and potential for downside chart movement considering the parabolic move and 10 year move to the upside. Downside rally imminent.
Basil
Trade active
Trade going well so far, looks like further short entries may be taken on the pink resistance line drawn on the chart below. Nailed the tempoary top of the dow, lets follow it down and analyse the chart pattern for potential reversal zones.Trade active
damn DJI where u heading? calling tops is my game!Note
Looking for next fib down/ previous resistance/support level for TP/reloadTrade active
DJI dumped but pumped back up to resistance, profits were taken and new entries looked for; Note
Chart broke up but long term plan still valid until bigger breakup occursNote
Inflection point reached - downturn imminent with double - double top showing on Daily time frame. short the dow back to reality!Note
Gorgeous demand edge showing in near textbook format, with the upthrust completed we can continue distribution at these levels until it becomes unsustainable. breaking below the demand edge would quite possibly signal wider economic turmoil however i'm sure the cracks will appear to show sooner. BasilNote
Added a few key points into a heikin ashi format chart which helps filter out some market noise.Note
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Bearish signals showing their true colors on the weekly candlestick chart..Note
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played perfectly BOOM BOOM Note
entry under 23819 .88 support for shortNote
bullshit fk u ripple Note
~2008 and yeah we're still on thisNote
watching closely here - the dump almost seems too status quo of late, and blow off 30k scenario looking possible if current levels see supportNote
Trade invalid if 26,630 is broken and supported on a larger timeframe - too much talk of doom in the media for it to happen here now imoNote
Awaiting confirmation signal but hovering at 26,660 hereTrade closed manually
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