DOW

Has the 20 day and 50 day moving average just crossed over, suggesting a bearish market move?

Hi, since there is 5 waves move up, i think it could do double correction or even go to new highs(it would make no sense but we live in strange world so who knows), just an idea

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...vezBOD%2Fxk2mzwM4%3D

gapped below the trendline and the 50 day ema line which is about as as bearish a signal you can get imvho....
that should provide the momentum trigger for more down imho....

rsi is just about holding on for now....
the bear setup is here....if this doesn't drop now....and rallies back up....then the bears are pretty much done for imvho...

lets see...it does seem the markets have suddenly realised whats going on in the world!
its not going to a quick V shaped recovery by any means in my opinion...

atb, wdik, dyor,
trendfriend

remo wrote: I checked back in history on my IG Chart....seems the original 61.8 fib level was around 25260 area....
Over time since I’ve drawn that fib level seems to have moved on its own...It needed adjustment .......I wonder if there was a lot of traders like me that drew the lines and never adjusted it... Hence why it dropped from that level.......
Some thing to ponder over in the future...
So basically I was very lucky with that short trade......dam.....lol...

Maybe it's IG

with the usual "Data is Indicative" catch all clause.

I checked back in history on my IG Chart....seems the original 61.8 fib level was around 25260 area....
Over time since I’ve drawn that fib level seems to have moved on its own...It needed adjustment .......I wonder if there was a lot of traders like me that drew the lines and never adjusted it... Hence why it dropped from that level.......
Some thing to ponder over in the future...
So basically I was very lucky with that short trade......dam.....lol...

Umm,,,,,,those were the levels I had drawn ages ago,,,,,seems like levels have changed on ig....kind of confused.....lol....as I placed my order ages ago and I suspect loads of others as well...
So seems like ig have adjusted chart....but funny how that level worked on a first attempt....

On my metastock the level to watch is 25261.......that’s the 61.8 fib level....