Posts Tagged dow
This was most annoying. I had sold the DOW last night as you know with a 50 point stop and target. The price moved up and took out my stop before it plumetted.. it would have hit my target as you can see nicely. It's always difficult to know where to put your stop.. it can always be either too tight or too far away.. you just have to stick to your plan.
In fact, I think in the coming days we may see lower prices.. all markets seem primed to move lower but they will do what they need to do
September 25, 2012
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The DOW looks like it's reached a top, a triple top in fact... in the 4 hour chart below, you can see clear resistance where the market has bounced off this showing a pin bar. Looks like there are strong sellers here in the market and a potential place to go short. I have put on a sell at 13560, looking to take this 50 points down to 13510 (which is just above the support level you can see). 50 point stop also.
This is a risk of 1% on my account.
September 24, 2012
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..
This is an interesting chart of the Dow Jones chart under the Daily timeframe.
Basically support and resistance levels can sometimes be the easiest way to get into a trade. The longer timeframes such as the Daily and Weekly charts are much more solid charts to trade off but they are for those who are more patient with their trading. I recommend the Daily charts for those who want to trade a few times a week and have other interests or a full time job.
Anyway, back to the trading, f
August 21, 2012
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