The price crossed the previous Lower bottom and formed a Lower Top – Lower Bottom sequence. Go short at the price of previous bottom and exit keeping the risk reward ratio in mind.
, , Dow Theory
, , Dow Theory
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Bullish View
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Consider atleast one to two year data to work with Dow theory. This helps us to identify the major tops and bottoms.
The indicated short position levels is fine, but we might have created position during early Jan 2016. Because the price went below the Previous bottom with volume.