The Dow Undertaking
Good Evening Dynamic Traders!
After an eventful, extended weekend, it is a pleasure to return to the trading table.
I will resume updates with an inspection of the Dow Jones, an index that has been patiently piled in my watch list.
Below is the daily chart (x refer BLOG 1 Feb)
Price has tested the steadfast support eleven times in over a fortnight to one degree or another. The zero figure is proving to be a stubborn constant.
Note the recent trend line break following a text book 123786
Given the distinct downtrend and yesterdays major dart at the horizontal , which may arguably be considered a "break and close" we may see a breakdown before very long towards the 7500 support in sight.
An entry below the support or even a designed strategy such as the DD may be employed as a conservative entry.
Fearless Dynamic Traders may wish to anticipate a bearish flag for an aggressive profit opportunity!
Whichever deal is chosen, utilise filters discreetly whilst engaging your BOB rules with concern.
Recall.... by defining your "edge" you simply have a higher probability of price flowing in your chosen favour,
but forget not.... each moment in the market is unique and therefore, anything can happen.
With an accepted and pre-defined risk, the savvy trader will wait for the market to decide.
Be aware of US news due tomorrow!
Dow Jones daily chart Advanced GetAfter an eventful, extended weekend, it is a pleasure to return to the trading table.
I will resume updates with an inspection of the Dow Jones, an index that has been patiently piled in my watch list.
Below is the daily chart (x refer BLOG 1 Feb)
Price has tested the steadfast support eleven times in over a fortnight to one degree or another. The zero figure is proving to be a stubborn constant.
Note the recent trend line break following a text book 123786
Given the distinct downtrend and yesterdays major dart at the horizontal , which may arguably be considered a "break and close" we may see a breakdown before very long towards the 7500 support in sight.
An entry below the support or even a designed strategy such as the DD may be employed as a conservative entry.
Fearless Dynamic Traders may wish to anticipate a bearish flag for an aggressive profit opportunity!
Whichever deal is chosen, utilise filters discreetly whilst engaging your BOB rules with concern.
Recall.... by defining your "edge" you simply have a higher probability of price flowing in your chosen favour,
but forget not.... each moment in the market is unique and therefore, anything can happen.
With an accepted and pre-defined risk, the savvy trader will wait for the market to decide.
Be aware of US news due tomorrow!
May I take this moment to recognise the Agfa Head Office and the contingency in Singapore who have expressed their appreciation at our regular notes and to return the gratitude to our extraordinary mentors' who relentlessly champion our progress behind the scenes.
Instinctive Trading!
Saba Jackson
posted by Saba Jackson @ 9:01 PM
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