Moving Average 5 is applied in Daily Chart. Whenever we get 2 closes above 5 MA the market goes up .
Same way 2 closes below the 5 MA the market corrects/falls.
The rise and fall target depends on the resistance and fall at that time.
The best minimum target would be preferably the BBs (in daily chart) and 200 EMA. in 5 Min and Daily chart.
Marking given to indicate upward/downward directions and please back test for further periods as you wish.
This system is very simple and can be applied in all the charts globally.
Based on this the DJ ready to fall. Minimum expected 600-800 points fall. However, please use your own
system or method to identify the targets as this post is only for educational purpose.
Same way 2 closes below the 5 MA the market corrects/falls.
The rise and fall target depends on the resistance and fall at that time.
The best minimum target would be preferably the BBs (in daily chart) and 200 EMA. in 5 Min and Daily chart.
Marking given to indicate upward/downward directions and please back test for further periods as you wish.
This system is very simple and can be applied in all the charts globally.
Based on this the DJ ready to fall. Minimum expected 600-800 points fall. However, please use your own
system or method to identify the targets as this post is only for educational purpose.