<\/p>\n
Dow rebounded 3 days ago on the 1D MA200 (orange trend-line). Since late July, this trend-line has been holding firmly as Support and every contact (with a candle week, no candle closing has been done below it), has resulted in a strong rise.<\/p>\n
Since the pattern is a Channel Down currently (since the September 03 High) is is natural to target the Lower High trend-line. As seen on the chart, the previous Lower High was made on the 0.9 Fibonacci retracement level, which is currently at 28650.<\/p>\n
Bonus: see how every MA200 bottom gave 4 days to the MACD to make a Bullish Cross on the last two occasions. That means that by Thursday the 1D MACD will make a Bullish Cross.<\/p>\n
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **<\/strong><\/p>\n ——————————————————————————————————–<\/p>\n !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!<\/p>\n \ud83c\udf89 \ud83d\udc4d Shout-out to TradingShot’s \ud83d\udcb0\u00a0top TradingView Coin donor<\/strong>\u00a0\ud83d\udcb0 this week ==>\u00a0didogetsov<\/a><\/p>\n ——————————————————————————————————–<\/p>\n Tradingview link:<\/p>\n <\/p>\n