Dow Triangle Pattern

By Sid Thapar

Friday, February 10, 2023 7:49 AM EST

person using phone and laptop computer

The last move of Dow was an impulsive move that started on 03rd Oct 22 and ended on 01st Dec 2022. Since 01st Dec 2022, Price is running in a consolidation phase making a Triangle Pattern. Soon impulse move coming.

If the price goes below 32975 then the triangle pattern will become invalid and we can look for short on retracement up to 33500 levels.

If the price takes support here we can initiate long trade depending on the price action and we can target 39000 levels by Mid April 2023.

We have to wait for further development of price action.

The chart is hereby attached for your reference.

(Click on image to enlarge)

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Disclaimer: The above views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk ...

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