DOW JONES Top of the Channel Down but will it stop there?
Dow Jones reached today the top of the Channel Down pattern.
This is a rise almost proportional to July 14th-22nd (around 7%). Both crossed over the RSI Falling Resistance and at the same time the MA50 (1d).
Trading Plan:
1. Buy as long as the 1d candle close over the MA50 (1d).
2. Sell if it closes under.
Targets:
1. 34950 (Resistance 2).
2. 32600 (MA200 1d).
Tips:
1. RSI (1d) of the two rises is at the same level after the breakout. Also both started rising on the 30.00 level, giving us more the impression that they are indeed similar patterns under same market conditions.
Please like, follow and comment!!
Notes:
This is a continuation of this trading plan:
This is a rise almost proportional to July 14th-22nd (around 7%). Both crossed over the RSI Falling Resistance and at the same time the MA50 (1d).
Trading Plan:
1. Buy as long as the 1d candle close over the MA50 (1d).
2. Sell if it closes under.
Targets:
1. 34950 (Resistance 2).
2. 32600 (MA200 1d).
Tips:
1. RSI (1d) of the two rises is at the same level after the breakout. Also both started rising on the 30.00 level, giving us more the impression that they are indeed similar patterns under same market conditions.
Please like, follow and comment!!
Notes:
This is a continuation of this trading plan:
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