Hello fellow Traders. In this blog, we will have a look at some recent short-term Elliott Wave charts of the Dow Jones Industrial which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 08/23/18 indicating that Dow Jones ended the cycle from 08/15 low in black wave ((i)).
As Dow Jones ended the cycle from 08/15 low, at the high of around 25890.60 (08/21 peak). It started a pullback lower in black wave ((ii)). The pullback proposed to unfolded as an . Due to the right side bullish stamp, which you can see in the chart below. We advised members that we like buying Dow Jones at the equal legs from 08/21 peak. Therefore, we expected buyers to appear in the dips in the sequences of 3, 7 or 11 swings. At the 100 – 1.236 Fibonacci extension of blue (w)-(x). Which came at around 25614-25564 area. And that was the first area for buyers to appear to take prices to new highs above black wave ((i)) peak or a larger 3 waves bounce at least.
Dow Jones Future 08.23.2018 1 Hour Chart Elliott Wave Analysis
In the last Elliott Wave chart, you can see that Dow Jones reached the blue box area (25614-25564) and bounced nicely higher. Due to the right side tag in our chart, long trades in the blue box area were authorized accordingly to our trading system. So the equal legs blue box was a buy and any trade from that area are risk-free by now, targeting higher levels. We already took some partial profits on this trade because a 7 swing structure lower in black wave ((ii)) can’t be ruled out as long as it does not take black wave ((i)) peak. Do please keep in mind that the 1-hour chart which I presented can have changed already. If you want updates every day. I can recommend you to take a 14 days FREE trial below.
Dow Jones Future 08.25.2018 1 Hour Chart Elliott Wave Analysis
I hope you enjoyed this blog. I wish you all good trades and if you interested in learning more about our unique blue box areas and also want to trade profitably. You can join for 14 days free trial. See you insight!
We believe in cycles, distribution, and many other tools in addition to the classic or new Elliott Wave Principle.
