Dow Support Zone 42,000-42,075 Bounce TRGT 43,725
Updated
I am anticipating a bounce off of support from the 42,000 area before completing the one full range expansion to 43,725 price level.
The last 10 days or so, price has been revolving around the HIGH of FOMC of 42,400
It has found support around the mid point of the Thursday the 19th's 8 hour candle and the high of Tuesday the 17th's high.
Between 42,250-42,300 support
FOMC HIGH as mean reversion of price
Pullback into the FOMC range and find support on 42,000
The last 10 days or so, price has been revolving around the HIGH of FOMC of 42,400
It has found support around the mid point of the Thursday the 19th's 8 hour candle and the high of Tuesday the 17th's high.
Between 42,250-42,300 support
FOMC HIGH as mean reversion of price
Pullback into the FOMC range and find support on 42,000
Trade closed: target reached
I took a long trade off of support using the high of FOMC 42,400 as the price support. I could have taken the other one as well, but I only did the one trade. I am slightly disappointed I didn't take that other one. Need to work on taking more setups if they show up after a first trade win.
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