DOW

4h path i'm looking for, if its about to turn lower in longer time frame, possible good short entry coming,

uk.advfn.com/p.php?pid=chartscreenshotsh...cnzFSjU9g0wvk+ngw+k=

the dows under real pressure continuing on from last week...

if it opens under 24956 (50 day ema line) the next target while below 25000 area would be 22800 imvho....and we have couple of gaps below 22800....

A big gap down today should provide the momentum trigger for a larger strong down move...
This is very much short the rallies atm....while below that 25,000 the lows open up here again in my opinion.

lets see

atb, wdik, dyor,
trendfriend

Trendfriend wrote: Yep thats the first part of the big crash which started in 1929....see the drop down to 200 then a big rally back up...before the real drop!!

Looks quite similar to now i think...

will history repeat itself?

for me atm....this needs to drop below 25000 with a technical event like a big gap down or a big strong down day for that island reversal to prove its the real deal.....that should provide the momentum trigger for further strong move down imvho....

atb, wdik, dyor,
trendfriend

Well TF,

I was convinced it 1937-1939, but what's a few years between charting friends!

Now, pre-market - it looks like you've got your wish. We hit a strong support line (i call it a strong one because I drew the line ages ago it seems, and lo and behold, it bounces "near" there). at 24548.

Anyway, it's all about the closing prices I can hear you saying. So fingers crossed.

Yep thats the first part of the big crash which started in 1929....see the drop down to 200 then a big rally back up...before the real drop!!

Looks quite similar to now i think...

will history repeat itself?

for me atm....this needs to drop below 25000 with a technical event like a big gap down or a big strong down day for that island reversal to prove its the real deal.....that should provide the momentum trigger for further strong move down imvho....

atb, wdik, dyor,
trendfriend

Something to think about, while dow and sp500 got 5 waves down on 4h chart and some kind of rsi divergance


then other indices like ftse,dax,france made only 3 waves and more downside should fallow


then on daily time frame on this indices we've got inside bar


So 3 options here imo, consolidation in another inside bar forming triangle,or up she goes above inside bar, or down below inside bar,

Weekly Nasdaq chart with kind of shooting star



just my thoughts

madmaxx wrote: There are some similarities, it looks like one from 1930?,

Putting my Dow History Hat on, I'd say 1937-1939 - maybe?