Getting
DJIA: Dow Jones: Breakout to Upside Likely Soon DJIA Dow Jones Industrial Average Futures
The Dow has had a torrid time for 3 months now, falling 14%
from the highs and bouncing three times directly off the
longer term parallel underpinning the rally - and which had
acted as major resistance right up to the point when the new
President/Paradigm took office.
Over those 3 months of wild gyration and whipsaw the Dow
has formed a neat triangle and is now now re-testing the the
falling dynamic which forms the last big resistance line to the
upside.
It's had 3 attempts so far to break this line and now we're
looking at a 4th.
It can do this up to 4 times but on the 5th at latest should
break higher.
Can either follow the break when it arrives and hope the rest
of the world follows it too, in which case volumes will rise and
it will begin to power upwards (stops under the line) or wait
for a potential retest of the dynamic once broken to the
upside - which not come, depending on volumes at that point.
Once broken the first resistance line lies at 24793-24800 and
it may come back from there towards the dynamic one last
time before surging higher again - this will most likely be the
last chance to get long at lower levels if we see it a little
further out in time.
Otherwise, if the Dow does come off from the dynamic for a
4th and likely last time, look to buy around 23869 levels if the
chance presents itself.
The Global Dow chart (next update) should help to provide
confirmation of the break when it comes.
Bitcoin: BTCUSD Getting Real Interesting againBitcoin: BTCUSD Update Getting Interesting Again Now
If you held your stops under 7660 as advised at start of
weekend the 7717 level has proved a good entry point.
However even if stopped out like me for 30 point loss after
spending the weekend fishing, losing bait and cursing and
never getting a chance to buy from lower, at least now, after
breaking above the upper parallel sucesssfully on second
attempt (but not hitting stops placed under 7700) we finally
have a decent long trade on from 7790 highest. That
bear engulfing green candle just now wiped out 34 hours of
sideways movement in 30 minutes flat. This is still strong.
No sellers. Just a few buyers...
we should see another test of the highs very soon.
Depending on risk profile and if long from 7717, either
close down at 7980-8000 range and be ready to buy again on break above
8020 (using 100 points + profit from this current long as stop
for next trade). If it works out you compound winnings so fast
it will make your head spin. If wrong you and stop gets hit
once it busts above 8020 you break even. Or you can hold the
current long and just watch at 8000...if it sticks (before China
opens it could do) close out but be ready to recomit later.
This could be explosive (and could also be a complete damp
squib) . But you'll never win unless you're prepared to play.
Good Luck to all those that do.
Bitcoin: BTCUSD The last yardsBITCOIN: BTCUSD A really exciting ride may be coming to its end. Maybe. And maybe not. Who knows? Whatever, the chart will tell exactly what the next move is going to be.
