Dow Intraday Charts 4 May - 7 May

ChartMan

Legendary member
5,580 46
Not an easy day, but no reason whatsoever to do anything other than look for shorts... Nice exit at RSI O/S.... even though it wasn't the lowest low..
If the price goes through a target, pulls back to it and continues the move, there is generally plenty more to come.... at least as much again. Broadly in line with EW theory, I think...
 

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mombasa

Established member
561 1
didn't trade yesterday but was following and saw a triangle on 5 and 10 min charts which delivered nicely.
 

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mombasa

Established member
561 1
Hi Chaps - unable to post a chart until 2night but that big expanding triangle on 60 min chart has been breached - target 9600 :(
 

lockstock

Well-known member
400 4
Hi Mombassa,

Looking at the daily chart, imho we are pulling back to the 200MA ( marked with a purple dotted line)

Until we breach the 200MA & take out the March lows, we are still in an uptrend.

I see the futures have just bounced off this area, so we will have to wait & see.
 

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Finirama

Established member
552 3
Lockstock,

I agree...the futures are holding 10K, so might turn out to be a descending triangle.
 

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