Dow Cup & Handle Forming: Possible breakout Symm Triangle
تم تحديثه
Chart says all. Symmetrical triangle now in fifth wave and narrowing rapidly to apex; correction six months old- maybe time for recovery
Index trading with support @25K (former resistance now becomes support) forming a descending wedge > suggests break to upside
Cup formed from June - July now shallow pullback is forming the handle. A breakdown to lower support will invalidate this idea
Elliot wave form had sharp wave 2 pullback so alternating behavior suggests wave 4 will be a shallow soft landing; fundamentals are still solid
Pennant on flagpole from wave 123 is a descending wedge, taken with approaching apex in symmetric triangle (continuation) & cup formation all point to an upside break.
Irrational exuberance may be just around the corner in August.
Good luck traders!
Index trading with support @25K (former resistance now becomes support) forming a descending wedge > suggests break to upside
Cup formed from June - July now shallow pullback is forming the handle. A breakdown to lower support will invalidate this idea
Elliot wave form had sharp wave 2 pullback so alternating behavior suggests wave 4 will be a shallow soft landing; fundamentals are still solid
Pennant on flagpole from wave 123 is a descending wedge, taken with approaching apex in symmetric triangle (continuation) & cup formation all point to an upside break.
Irrational exuberance may be just around the corner in August.
Good luck traders!
تم حذف الأمر
Futures higher today world markets higher but I smell a bull trap I'm very leery of going long and getting scalped on another downdrdaft. Maybe leaving money on the table but stepping out for a few to see the real trend. Most of the cup-and-handle patterns I've seen have a tricky little fakeout lift back to the lip of the cup then a sharper pullback to 0.50 - 0.618 of cup (or flagpole) height. Waiting to see the breakout before committing - no more whipsaws please!google.com/search?q=cup+and+handle+pattern&safe=active&rlz=1C1AJZK_enUS784US784&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwiY-63N2rfcAhWBY98KHb6UD8oQsAQIag&biw=1536&bih=732
تم فتح الصفقة
Game back on. See my latest post.
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