Dow TOP call - 10yr top formation done

[marketwavez]

Dow Jones

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Inverted
Head and Shoulder

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[marketwavez]

Dow Jones

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The Big Picture :

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( only if your heart is bullish ) .......

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[marketwavez]

a Head Shoulder pattern only confirms ,,,,,,,,,,,,,
( when price-action has broken the neckline area )

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until then ---- you've got nothing !

 

[marketwavez]

Quote from deadbroke:




Had he posted a Head and Shoulders pattern on the 5-min. chart you'd have blown him on the spot.

Dead Broke ,,,,,, keep up the good work ! ......

 

[shortie]

Quote from deadbroke:




Had he posted a Head and Shoulders pattern on the 5-min. chart you'd have blown him on the spot.

i don't believe in a head-and-shoulder on any time frame. Prechter is a double-fraud: not only he uses the pattern that can only be seen "working" with a lot of hindsight, he "enhances" it with a 12 year time frame.

 

[marketwavez]

Quote from shortie:

i don't believe in a head-and-shoulder on any time frame. Prechter is a double-fraud: not only he uses the pattern that can only be seen "working" with a lot of hindsight, he "enhances" it with a 12 year time frame.

a Head and Shoulder pattern is very common pattern ,
they are everywhere and is probably reliable less than 40% of the time

but still ,,,,,,,

they only confirm when price action breaks the neckline

 

[deadbroke]

Quote from shortie:

i don't believe in a head-and-shoulder on any time frame. Prechter is a double-fraud: not only he uses the pattern that can only be seen "working" with a lot of hindsight, he "enhances" it with a 12 year time frame.

Shortie, get your ass back to Rennick's thread and stick with what you know, namely "Dow's gonna take a dump at 2:30 PM EST" - aka very short-term oriented moves, which even that you fckin idiots can't get right.

 

[deadbroke]

Quote from marketwavez:

a Head and Shoulder pattern is very common pattern ,
they are everywhere and is probably reliable less than 40% of the time

but still ,,,,,,,

they only confirm when price action breaks the neckline

Welcome MWZ.

 

[deadbroke]

Quote from deadbroke:

Dow 60-0min. update ....

the trendline shown in previous chart has broken so based on what I said, the top of the rally is in, but I'm not satisfied until we drop, so I'm thinking ahead of being wrong for other scenarios

Given that all this is happening right at 78.6% retracement with this screwy sideways on 60-min., I suspect the wedge or EDT in blue as shown.

Either way if the lower blue line busts, its a good short.

If Dow is wating for Euro and gold to all go together, hey I don't mind.




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continuing with the same 60-min. chart ... the lower blue trendline held up well and we got a breakout thru' the top line of the wedge.

I said that if the black trendline broke, the top is in - I'm wrong on attempt #1 to call this particular rally top. The 60-min. top is not in as anyone can clearly see. This is one of the times when a trendline break occurs and Price moves sideways and then takes off again.

Due to the breakout, I'll have a much simpler 60-min. chart in next post.






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[deadbroke]

2nd attempt to call this 60-min. rally top. (Obviously the 1st attempt failed)

If the updated black trendline breaks, the TOP is IN.

One other possible guess, more likely wishful thinking, is that 161.8% Fibo was hit perfectly. Its possible that its significant, but more likely just a guess.







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