June 10, 2010

Dow jones Ascending broadening wedge in 5 minutes

  • Dow Jones has formed an ascending broadening wedge in 5 minutes chart.
  • This pattern looks like it has a down side break out possibility.
  • With dow not able to sustaine above crucial levels the break down possibility increases.
  • But we have to see as the day goes on. And the time frame is 5 minutes which decreases its effectiveness
  • I just wanted to point out the repetition of patterns in all time frames.

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