Double Bottom, Tripple Bottom, or Continuation of Bearish Trend
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This is a 4 hour chart using Stochastic Pop indicators. I have marked my confirmation points and typically hold for 3 -4 periods with stops in place. After exit I wait for alerts for the next setup of either long or short. This pattern with the Dow has been pretty consistent over the past few months.
The Dow is in a bearish, end of year, trend. Apple and other tech stocks are heavily weighted in the index and has pulled it down. There is a potential for a Double Bottom Pattern setup that will either break out or the index will continue its downward spiral through the end of the year and possibly through 2019. The index has been giving nice swings with clear entry points for trading options.
The Dow is in a bearish, end of year, trend. Apple and other tech stocks are heavily weighted in the index and has pulled it down. There is a potential for a Double Bottom Pattern setup that will either break out or the index will continue its downward spiral through the end of the year and possibly through 2019. The index has been giving nice swings with clear entry points for trading options.
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