DOW

Dow is getting smashed....,stay out of new longs now....wait for the dust to settle...All supports are breaking down...

Wow what a bounce off the 200 weekly MA.

pre-market has smashed through this level already so trade wont happen at that level.16333
The next level for strong support and attempt at first attempt is 15855. Again during market hours only. Use tight stops....This will be a risky trade as now the trend has clearly changed to down trend.This trade is trying to catch the bounce that always happens after a big down move. So short term trade.

remo wrote: Those doji showed why technicals are great. They were the warning signs for the correction on the dow.Hope some of you managed to get out at that time Atleast you heard it from here first


The dow is very close to its main uptrendline. Im going long on a first attempt during market hours at 16333. This is the main trend line for the up trend, so very important level.

weekly chart:

This chart shows the main trend line from far off. So should see why 16333 is important


Daily chart

This is a close up using daily.

im gonna go long on a first attempt basis at 16333 with a 100 points stop. Why 100 points?? Well im using 100 points as the markets are very volatile around major points , and this is as major as they come. I expect this to bounce on first attempt but if it fails then this will motor down even faster so hence why we have a stop loss.

ive been real busy of late with loads of projects (personal)and have not been on that much. Ill try and post more if i get some free time as markets have finally gone interesting Atleast this weeks share tips have some good trades in there and some not so good ones

Be safe and dont gamble too much

If the trend line from 2009 breaks down, the big if?? & do have to wait & see for conformation then...
I’m thinking that this could be the end of the bull trend all the way back from 2009??? & the main Elliot waves 1 to 5 that have all been completed???
If not, then one last main wave to go up & into next year???

For me if the trend line breaks, i can understand this 100 points stop, as the 38.2% fib (Elliot main Wave 3) which started from the low on 4th October 2011 (10404) to the high of (18351) 19th May2015, gives you around 15311, I think that 100 points swing & the 200 day moving average of currently 15270 on the weekly chart gives the Dow a support Level.

I think if we go below around 15300, then the trend has changed for me & we are starting correcting from all the way back from 2009.
Oh..We have broken through the ichimoku cloud, shown in blue on the chart.


www.dropbox.com/s/2im27g8ua5post8/DJ30%2...21stAug2015.png?dl=0

I had just looked on the monthly chart and stuck on the trendline and seen the same trade

Those doji showed why technicals are great. They were the warning signs for the correction on the dow.Hope some of you managed to get out at that time Atleast you heard it from here first


The dow is very close to its main uptrendline. Im going long on a first attempt during market hours at 16333. This is the main trend line for the up trend, so very important level.

weekly chart:


This chart shows the main trend line from far off. So should see why 16333 is important


Daily chart



This is a close up using daily.

im gonna go long on a first attempt basis at 16333 with a 100 points stop. Why 100 points?? Well im using 100 points as the markets are very volatile around major points , and this is as major as they come. I expect this to bounce on first attempt but if it fails then this will motor down even faster so hence why we have a stop loss.

ive been real busy of late with loads of projects (personal)and have not been on that much. Ill try and post more if i get some free time as markets have finally gone interesting Atleast this weeks share tips have some good trades in there and some not so good ones

Be safe and dont gamble too much