DOW

very tempted to short with stops above the high but thats over 170 points. But i wont take the risk as i only ever place stops 50pips max...

its gonna take some thing special to push past that channel top resistance which goes back a long time.
im not shorting just yet as have a wave 4 subwave to come and maybe a last wave 5 sub to re-test the channel lines again.
But would be nice to see a another gap down so as it forms a island top like food4thought mentioned.

dl.dropboxusercontent.com/u/4899609/dow3rdmarch2017.png

Gap at open? Island top? Exhaustion. Certainly dark cloud cover

Richb wrote: Do you see a wave 4 on the weekly back down before that top area you've mentioned Remo ?

Wave 4 has completed already based on my counts. The chart I posted was a monthly chart so as I could fit the whole chart on to screen. And I'm talking about the primary waves and not any sub waves.
So not certain what your asking?

Remo this is what I was thinking

Do you see a wave 4 on the weekly back down before that top area you've mentioned Remo ?