Archive for the DOW Category
I'm doing my usual analysis of the markets taking signals and trades of the Daily timeframes. The one that looks interesting today is the DOW, see pic below:
Now you have to bear caution as the market is clearly in an uptrend.. however, the price action over the past week, looking at the daily charts, shows us that there seems be a band of resistance where the price is unable to get beyond. Of course, the markets can do anything but this does look like a worthwhile trade taking a 1:1 risk
August 14, 2012
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It just goes to show that you never really know where the markets are going. I had moved my stop up a bit as the previous stop under the pin would be a full 2% loss if it hit. Moving up the stop to a previous low meant a loss on this trade would be 1%.
Well, the markets fell extremely quickly today and took me out of the trade. Of course, it was disappointing and I would still be in my trade if the stop was below the pinbar but even if I was and saw the strength of this fall.. I would h
May 30, 2012
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Remember the DOW trade from last week which I've been following? Today, back to normal trading volumes, the DOW finally showed some strength. It pushed up and closed at the top which is bullish.
You can see where I have drawn resistance, I'm expecting prices to reach here and will take my profit below this level at 12750. I've also highlighted where the pin bar is which brought this trade to my attention.
I don't particularly use indicators but you can see that MACD is starting to turn
May 29, 2012
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