I"M LOVING THIS US30 SETUP Seems toooo good to be true?
Taking short positions on US3 on RS and TL - follow for more
Dowones
Dow Jones might have completed a running flat around 26400 Dow Jones might have completed a running flat at 26400 yesterday to terminate lower degree Wave 2. The indice looks to be setting up for a sharp reversal towards 18200, looking at the bigger picture. The conventional Head and Shoulder pattern also seems to have carved its Right Shoulder around 27600/700 levels on June 09, 2020. Probable larger degree wave counts are also suggesting Wave (1) and (2) are in place at 18200 and 27600/700 respectively. If the above holds, Dow Jones should stay below 27700 and ideally below 29600. Further it should proceed lower towards 18200, as Wave (3) progresses. A drop below 25000 interim support would accelerate towards 22800 and further. Overall, Dow Jones structure remains bearish until prices stay below 29600 mark.
Strategy:
Short against 29600, targeting below 18200 levels.
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