Dow Jones Industrial Average appears to be moving higher in a 'c' wave. Within the 'c' wave, we appear more than half way through the impulse. If the trend continues higher, the area near 27k may offer a reaction. Regardless, my view is that the next major move is likely to the downside.
Wave iv of 'c' or the wave 'b' low can offer a short entry on a break down. That way, if this analysis is incorrect and price continues higher without hesitating lower, then we can be saved from a losing trade.
Wave iv of 'c' or the wave 'b' low can offer a short entry on a break down. That way, if this analysis is incorrect and price continues higher without hesitating lower, then we can be saved from a losing trade.
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Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.