DIA trade ideas
Dow Weekly Deep Crab Min. Target+5% More!STAY BULLISH on this WEEKLY C-D leg breakout up to MINIMUM 1.618@204.
I've been discussing these targets for months (INDU=20,500 Minimum)
HARMONIC TRADER TIP: In Crab+DeepCrab patterns, EMPLOY THE 1.902 extension, especially when the trend is strong. The trend is STRONG so look for DIA to reach for 214.50 area for this situation.
Few reasons that make think that this rally is overYes... Trump's rally drove the Dow to 20,000!
What now?
Here are few technical reasons (or patterns of you wish) that make me think that we may just hit the top:
DIA reached 200$ - Huge psychological level
AB=CD pattern completion (with the Fib confluence zone - 1.618 and 2.61)
DIA is testing previous uptrend line (now resistance)
RSI deep in the overbought territory
Profit taking before the holidays?
What do you think?
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Happy holidays!
(DOW) Forming A High Probable TriangleDOW has been in sideways consolidation mode since making a swing high of 18363 during May 2015.
From an Elliot Wave perspective, the consolidation appears in a form of a Contracting Triangle .
Subways of a Triangle appear in the 3-waves as depicted in the a-b-c labels.
Wave c of D appears to be completed and is now forming Wave a of E.
When Wave E completes its a-b-c 3-wave structure, we can expect a very sizable upside exceeding 18363 to all time highs.
More updates to come as the sub wave progresses..