Dow Jones Bearish Price Action Gameplan for 12/16
Updated
High-impact news should bring significant volume on Monday. Based on this, I anticipate a strong buy from 5:00 AM to 8:30 AM CST, potentially pushing price back up to FOMC Support before resuming its bearish trend toward 43,575—a move worth approximately 358 ticks. If the market grants me my desired volume, I may be tempted to surf a few concepts; however, after Friday's successful hold, I’m leaning toward placing my sell position and holding it for the remainder of the session.
I anticipate price selling down to 43,300 by Wednesday FOMC, as this level aligns with the overall bullish trend we're currently in. Dow Jones often respects structures and trends, so I’m banking on it continuing to do so.
My only concern is that the election candle drove the trend higher than the original bull trend, so we may or may not reach my anticipated target. Dow_Jones_Maestro posted a perfect example of this, check out his idea linked below:
Let’s lock in and collect those ticks!
I anticipate price selling down to 43,300 by Wednesday FOMC, as this level aligns with the overall bullish trend we're currently in. Dow Jones often respects structures and trends, so I’m banking on it continuing to do so.
My only concern is that the election candle drove the trend higher than the original bull trend, so we may or may not reach my anticipated target. Dow_Jones_Maestro posted a perfect example of this, check out his idea linked below:
Let’s lock in and collect those ticks!
Note
If the market is bullish post open, then I will be looking to place this sell order. I would then hold this through tomorrow. Lets see
Note
Trade closed manually
Didn't get my desired volume. I closed this trade early at 118 ticks
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