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10 years 2 months ago #13458 by Ocean10
Replied by Ocean10 on topic DOW
Hi Everyone, Happy New Year.

A 123 scenario is likely in the short term as per the 1 hour chart. The 16591 level appears key and also coincide with 23.6 fib retracement. A break of this level should take us up alternatively more downside !
DYOR
Good luck

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10 years 2 months ago #13459 by Ocean10
Replied by Ocean10 on topic DOW
Updated detailed chart - dyor...
GL
The following user(s) said Thank You: ronnie, Trendfriend

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10 years 2 months ago #13460 by Trendfriend
Replied by Trendfriend on topic DOW
Hourly chart below.
Looks suspiciously like a bear flag to me, and its on the verge of breaking down :evil:
Going be nasty when it does! ;)
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10 years 2 months ago #13474 by Ocean10
Replied by Ocean10 on topic DOW
The chart suggests downtrend - bear market. where next????

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10 years 2 months ago #13484 by Trendfriend
Replied by Trendfriend on topic DOW
Dow looks like its in this channel on the hourly chart.
I'm looking to short on the top of the channel @ 16280.(if it gets to that level, trading hours only) with 30 point stop.

Regards,
Trendfriend
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10 years 2 months ago #13491 by Ronmould
Replied by Ronmould on topic DOW
I've had a cheeky long today, based on SPX hitting support from oct14/aug15 lows.

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