Hello Traders and Investors, today I will take a look at the Dow Jones.
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Explanation of my video analysis:
There is one major long term pattern which we have been looking at for a very long time - a rising channel formation. Just a couple of months ago the Dow Jones retested the lower support trendline and created a beautiful triangle breakout while rejecting towards the upside. If we now get a retest of the breakout level which is then acting as support, a major continuation higher is quite likely.
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Keep your long term vision,
Philip (BasicTrading)
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Explanation of my video analysis:
There is one major long term pattern which we have been looking at for a very long time - a rising channel formation. Just a couple of months ago the Dow Jones retested the lower support trendline and created a beautiful triangle breakout while rejecting towards the upside. If we now get a retest of the breakout level which is then acting as support, a major continuation higher is quite likely.
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Keep your long term vision,
Philip (BasicTrading)
Note
So far playing out exactly as anticipated on DJI.Definitely ready for more bearish pressure in the near future:
Keep your long term vision!
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Free: Join our "Elite Trading" community👇🏻
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Keep your long term vision!
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Free: Join our "Elite Trading" community👇🏻
discord.gg/jgdrYXwqyD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.