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Support so far today my 10m 200ema sitting @ 978 currently. Some weak resistance ( from now on R for resistance and S for support ) 27,045, but momentum up and support looks strong atm, esp from today's central pivot @ 938 up to the 10m 200ema.  

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  • 1 month later...

Potentially massive resistance zone has been reached on the Dow, the area between 28,000 - 28,500. If it breaks, then we should see the price move up towards 30,000, but if it holds and falls, then for me this could be the top. I think the remainder of November will give us the answer. Very critical period.

75242187_2660218240697387_9119329550780596224_n.jpg

75388372_2637642392954972_3625581782331555840_n.jpg

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Dow has snapped back from its early gains today. Two reasons I can see, firstly the price was well within my danger zone posted above, and secondly was the strong H1 diversion formed when the price pushed higher up to 28,160.

For me, there is a pretty strong possibility that the Dow Jones peaked today. Still early days, so don't want to sound overly confident, but we should have a pretty good idea by the end of this week. Right now on H1 100sma support, so we'll see if that can send the price back up.

Wall Street H1 div.png

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  • 1 month later...
On 20/11/2019 at 00:19, Catweazle said:

Dow has snapped back from its early gains today. Two reasons I can see, firstly the price was well within my danger zone posted above, and secondly was the strong H1 diversion formed when the price pushed higher up to 28,160.

For me, there is a pretty strong possibility that the Dow Jones peaked today. Still early days, so don't want to sound overly confident, but we should have a pretty good idea by the end of this week. Right now on H1 100sma support, so we'll see if that can send the price back up.

Wall Street H1 div.png



Just stumbled upon this thread. 
Seems like DJIA flew sky high. How did you do? I hope everything is fine. 

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  • 5 months later...

So having been rejected off of 400, that level definitely seems like it is the one to break for a further move to the upside, though I still have around 450 on the dow, as the highest potential resistance today. There's plenty of support as the longer term momentum is still northbound, but that 450 level if it does get there looks like it could be pretty tough resistance.

Edited by Catweazle
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  • 2 months later...
5 minutes ago, Catweazle said:

On the Dow, today's R2 pivot point is at 28,231, so I'm looking at this level or thereabouts as a potentially big resistance level to take profit, and look for a short signal.

Short in an uptrend?

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38 minutes ago, dmedin said:

Short in an uptrend?

If the level I posted above does offer strong resistance, then of course. I will be taking profit on R1 if it gets there, it's now close, and will then look to short provided I see a short signal.

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As I expected, R1 held the price and looks like a formidable resistance level, at least for now.

For those who are interested, I am an intra-day trader, so always looking to take profits within the trading day. I seldom hold longer positions.

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  • 6 months later...

Above level is holding atm, but price to me looks to be in a difficult place between support and resistance, so I can't see a clear opportunity yet. I definitely won't go long at this level, not yet anyway, so a short may present itself soon.

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