Bearish Cypher Pattern on the DOW & DIA! DOW heading lower?
Updated
Hey Traders, We have another short term trading opportunity on DIA. There is a bearish Cypher Pattern Completion on the 15 Min Chart along with several 15 min Candle closes outside of the upper Bollinger Band. The Market is trying very desperately to go higher but cannot seem to break out of this range that it has been in. The Market may be attempting to go higher here but I will not be betting on that until we see some real signs of strength and can create a higher high/higher low.
Entry- 209.40
Target 1- 209.00
Target 2- 208.70
Stop- 209.80
Entry- 209.40
Target 1- 209.00
Target 2- 208.70
Stop- 209.80
Trade closed: stop reached
Stopped out! I did expect this trade to go against me a little but unfortunately price broke through a strong level of resistance and stopped us out by 2 points!
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