Article By RoboForex.com
DJIA Index
Dow Jones continues to move within 3rd wave. On lower level of structure wave (4) is completed and market starts to initiate 5th wave. Stop-loss for long position is set to breakeven. In nearest future I expect violation of high of wave [3].
At H1 chart we see more detailed picture. Wave (4) is possibly forming in the shape of simple zigzag. Probably market is located within ascending impulse within wave 1. Internal structure of this wave allows further growth.
Chart of Crude Oil indicates correction, but growth within «C» wave can be resumed. On higher wave level «double three» formation is possibly completing inside wave [B]. As soon as it will be completed, market will be ready to initiate descending trend.
As we might see from H1 structure, 4th wave is completing within «C» wave. Now I have one long trade, but after 1st wave (In the structure of 5th wave) I plan to add more longs.
RoboForex Analytical Department
Article By RoboForex.com
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