Dow Jones , Long, then Short, be really careful -Elliott's Waves
I know my Chart is a mess, but so far, the Waves are matching perfectly.
The current Wave we are in is the 3rd of the 5 impulse wave, which could lead to 24 500
Then Wave 4 would retrace (and many shorting people would think it s a good time to short there with big values)
But then we can get a 5th extended Wave which would go up to 25 100 which would be a perfect 0.618 retracement from the big dump
And here is the awesome thing, breaking 25 000 would make so many people go long.
So first, all the shorts get liquidated because of the uptrend, and then it s a full BULL trap where lots of people get into the market when above 25 000.
AND THEN COMES THE MASSIVE CRASH where all the longs gets liquidated and add up the the panic selling.
I m posting this to tell you to be extra careful with what you are doing, and better step aside then loose everything, or gamble with very very tight SL and DO follow your trades (don't leave your computer/phone if you open one with no SL !)
I hope those words will help some.
The current Wave we are in is the 3rd of the 5 impulse wave, which could lead to 24 500
Then Wave 4 would retrace (and many shorting people would think it s a good time to short there with big values)
But then we can get a 5th extended Wave which would go up to 25 100 which would be a perfect 0.618 retracement from the big dump
And here is the awesome thing, breaking 25 000 would make so many people go long.
So first, all the shorts get liquidated because of the uptrend, and then it s a full BULL trap where lots of people get into the market when above 25 000.
AND THEN COMES THE MASSIVE CRASH where all the longs gets liquidated and add up the the panic selling.
I m posting this to tell you to be extra careful with what you are doing, and better step aside then loose everything, or gamble with very very tight SL and DO follow your trades (don't leave your computer/phone if you open one with no SL !)
I hope those words will help some.
Short with Targets : 24365, or 24295or 24233
It should be a sharp decline