Dow Jones is holding the Channel Up since December and on Friday it came the closest to the bottom in 1 month.
There is a potential Channel Down emerging and the key to which pattern prevails will be the MA50 4H.
Trading Plan:
1. Sell below the MA50 4H.
2. Sell if the price breaks under the Channel Up.
3. Buy above the MA50 4H.
4. Buy at the bottom of the Channel Up.
Targets:
1. 33470 (bottom of Channel Up).
2. 33000 (above Support 1).
3. 34500 (below Fibonacci 0.786).
4. 34850 (below Resistance 1).
Tips:
1. The RSI is supported in a similar way like December-January. That kick started a strong rise. Break below and the pattern might be negated.
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There is a potential Channel Down emerging and the key to which pattern prevails will be the MA50 4H.
Trading Plan:
1. Sell below the MA50 4H.
2. Sell if the price breaks under the Channel Up.
3. Buy above the MA50 4H.
4. Buy at the bottom of the Channel Up.
Targets:
1. 33470 (bottom of Channel Up).
2. 33000 (above Support 1).
3. 34500 (below Fibonacci 0.786).
4. 34850 (below Resistance 1).
Tips:
1. The RSI is supported in a similar way like December-January. That kick started a strong rise. Break below and the pattern might be negated.
Please like, follow and comment!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.