Posts Tagged dow trading
For those who read my last post, you would have noted that I had shorted the DOW when it failed to remain above it's previous high. To me, this showed weakness in the market and a good chance to sell. I had a 140 stop on the trade and what is interesting now is that the profit on my trade now is 140 points.... if I close now, I'll have a 1% gain on my account in the bag which would be nice. I am actually holding out until around 13000 which is another 70 points away but it also depends on wh
August 23, 2012
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![Went Long on DOW as it broke resistance]()
So today the DOW had been not doing much bouncing between 10300 and 10380. I was looking for a break either up or down to time my entry. I had an order at 10403 which was above the range but also above the round number.. round numbers are always areas of relatively strong resistance so I was mindful of that.
Additionally, the pivot was around 10429 or so which would be another hindrance to price moving upwards.
Anyway, my long was trigger and I managed to grab 25 points which was pretty aw
July 23, 2010
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![The Fake DOW triple top]()
Wow, the DOW really made a significant move today... it shot up and by the time I got home, I had missed all the action.
However, the market had consolidated around the 10350 level. The market had made such a tremendous move that I couldn't see it moving much higher. Hence my short, I saw a triple top form around 10350 in the 5 minute charts and sold at 10340 with a 20 point stop. However, it proved to be a fake and stopped me out.. it just broke and made a high for the day and then moved bac
July 22, 2010
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