It just so happened, that yesterday my position on DJI did not close. The price was not able to reach the level of 61.8 ADRs and stopped a centimeter from it. Let's see what happens on Monday ... While I was sleeping at night, the price returned above 22000 and the position became temporarily unprofitable, but by the close of the session it nevertheless returned to about the area where the rollback began. I take the current situation quite calmly, due to the sharpness of the rollback in the last hour of the trading session. The daily candle is an absolutely bearish candle without shadows. This suggests that the beginning of next week will most likely be bearish. But as they say, wait and see ...
The current situation is as follows ...
For clarity of vision, we switch to the M15 timeframe. The zigzag layout now looks like this ... I must say right away that this layout is not an absolute fact, it can undergo changes in the course of further work. Just the most logical picture seems to me at the moment.
From the picture it is clear that a zigzag has formed on the M15 timeframe and we can say with a high probability that peak 2 is also formed. This is evidenced by a sharp rollback from it at the end of the trading session. But we will get a clear confirmation of this fact only when the price goes below the peak 1. What worries me a bit in this situation ... This is the fact that during a sharp upward movement Xard’s setup did not manage to catch this jump in the main window. Not a background, not a single candle had time to change color to blue. This moment is shown in the picture by a yellow arrow. Only the histogram in the bottom window managed to catch a surge. In this case, it is quite possible to review peaks 2, or change the score and form the 5th peak on the M5 timeframe. This is how I see the current situation. Next week, let's see what the market will offer us ...
Have a good weekend;)
