Hi everyone:
Looking at DJI for short term bearish opportunities.
We see this overall larger structure on the higher time frame had a sell impulse down, followed by a correctional structure.
Recent price action has a ascending channel within the larger structure, and we see price getting to the top now.
It provides extra confluences on the sell when we get to a key area with corrective nature movement.
I would be looking to see how price action will develop in that general area, and see if we get sell momentum to come in.
Alternatively, price can still trickle up to the recent tops to form double tops and drop down as well.
Thank you
Looking at DJI for short term bearish opportunities.
We see this overall larger structure on the higher time frame had a sell impulse down, followed by a correctional structure.
Recent price action has a ascending channel within the larger structure, and we see price getting to the top now.
It provides extra confluences on the sell when we get to a key area with corrective nature movement.
I would be looking to see how price action will develop in that general area, and see if we get sell momentum to come in.
Alternatively, price can still trickle up to the recent tops to form double tops and drop down as well.
Thank you
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Related publications
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.