DOW JONES Falling Wedge to break upwards soon.
Dow Jones is trading inside a Falling Wedge.
Right now it is on the MA50 (4h) after rising on a bullish wave to the pattern's top.
The pattern is very close to be completed and Falling Wedges tend to break to the upside once completed.
Trading Plan:
1. Buy on the next pull back.
Targets:
1. 43500 (under the 2.0 Fibonacci extension).
Tips:
1. The RSI (1d) is on higher lows, i.e. a bullish extension since December 18th. Sign that a bullish break out is ahead.
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Notes:
Past trading plan:
Right now it is on the MA50 (4h) after rising on a bullish wave to the pattern's top.
The pattern is very close to be completed and Falling Wedges tend to break to the upside once completed.
Trading Plan:
1. Buy on the next pull back.
Targets:
1. 43500 (under the 2.0 Fibonacci extension).
Tips:
1. The RSI (1d) is on higher lows, i.e. a bullish extension since December 18th. Sign that a bullish break out is ahead.
Please like, follow and comment!!
Notes:
Past trading plan:
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