DOW

looks like 5 wave down from recent high to lows in a wave "a", followed by a "b" wave rally - current and final "c" wave to follow imo.

in addition 5 clear impulsive waves from 16th Nov...

will post chart

This is approaching the short term trend line on the hourly chart.
Im gonna go long at 12950 with a 30 point stop.



dyor

www.dropbox.com/s/7kk0lr9ysbkmioj/Dow%20...%20PM%2024.10.12.gif

Could not upload image for some reason, here is the link:
www.dropbox.com/s/7h78jv59wufrb0y/Dow%20PM%2024.10.12.gif

Some believe that TA is closely link to identifying waves pattern since pattern repeat itself. This is where I may need help from more experienced chartists. The hourly DOW chart below is showing repeating pattern. It is possible that my labeling is wrong as I'm trying to learn EW. It seems to me that we are now likely to see a bit of upside over the next few days. Please feel free to put me right if the chart is misleading. Thank you.