DJI Average Correction Time?
Utilizing a Traditional Pitchfork on a Weekly Chart for the DJI, the market has been steadily moving up and up and up since COVID-19 shut down the economy.
Using Observations from Alan Andrew's, there is now an 80% chance of Price (at least) reaching the median, although when that might happen cannot be predicted (nor would I try). Obviously, the longer it takes price to correct, the smaller the retracement as this pitchfork is angled up.
Pitchforks bring a Timing Element to price and when coupled with horizontal (Potential) Support and Resistance, they create energy points... areas of high likely-hood of reversal (but not guaranteed).
Time to watch and see.
Using Observations from Alan Andrew's, there is now an 80% chance of Price (at least) reaching the median, although when that might happen cannot be predicted (nor would I try). Obviously, the longer it takes price to correct, the smaller the retracement as this pitchfork is angled up.
Pitchforks bring a Timing Element to price and when coupled with horizontal (Potential) Support and Resistance, they create energy points... areas of high likely-hood of reversal (but not guaranteed).
Time to watch and see.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.