Is a correction looming on the DOW?
What are your thoughts? Are you expecting a correction on the DOW anytime soon or do you think the rally will continue? Please post your thoughts in the comments below.
SHORT - US30USD
SL: 28347.3 (Suggested by our algorithmic system)
TP: 27679.2 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Bearish divergence on MACD and RSI indicators
2. Volume volatility is looking flat compared to recent history
3. Price is retesting a resistance level
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/JyQb2HD (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
SHORT - US30USD
SL: 28347.3 (Suggested by our algorithmic system)
TP: 27679.2 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Bearish divergence on MACD and RSI indicators
2. Volume volatility is looking flat compared to recent history
3. Price is retesting a resistance level
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/JyQb2HD (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
Trade closed: target reached
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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.
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.