DOW JONES INDEX│ US30 │ 5 – 9 August 2024

4 ago

- Daily timeframe [long term timeframe]
Swing structure is bullish, however price is in a corrective phase and tapped into discount, the only question remains is whether this correction will continue or if price will turnaround at this point to continue its bullish price action
• Bullish bias


- Four-hour timeframe [medium term timeframe]
Focusing on the last leg of the daily internal structure, we can see that the four-hour timeframe is bearish; we however can see a fractal pullback. Will this lead to the overall trend continuation or just an internal pullback? Time will tell
• Bearish bias


- 15-minute timeframe [short term timeframe]
Zooming in on the four-hour fractal pullback, we are waiting to see if we will change character to the upside or continue bearish.
• Bearish bias



©Austin Palmer for FONOS Fx, 2024.

6 ago

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15 ago

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