Posts Tagged dow jones
The below is the daily chart of the DOW and that it had made a double top formation a few days back. Following this, the market started going lower and yesterday I was looking for a break at the previous low as indicated. This happened and I had a short at 12460
The market fell and was looking to fall soon but after a major break, I was expected a retracement to happen far later than it did and I ended closing on the retracement for 40 points only for the market to fall further in the US
July 28, 2011
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I had spotted that the Dow Jones had made a double top and I shorted it as it retraced and headed downwards at 12720. At this time I was thinking that this could be a nice longer term trade as I anticipated seeing the Dow decline over the coming weeks and possibly months.
I knew that there was support at the 12650 level and if it were a daytrade, this would have been a good place to take profits and take 70 points.. not a bad days work. However, when it bounced, and started to eat into my pro
July 22, 2011
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We've seen the DOW propped by up support around 12400 for all of last week and when it broke today I had a short at 12360 which was trigger. It was looking well and at one point I was already 60 points up. Now the markets always seems to find support at big numbers so at 12300 it bounced.
I expected this but with a nice clean break to the downside, I didn't think it would bounce that high. I had an initial 80 point stop which I moved down to entry when the market hit 12300 but then hit exactl
July 18, 2011
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