Week 2 January Daytrading Gameplan DOW JONES FUTURES

I am performing my own weekly analysis for the week ahead. I may not be entirely sure what is in store for next week but my strategy calls for shorting into the 200sma whether it pokes its head above or not. I will be mostly short bias but if long, I WILL be closing before it reaches the 200sma.

In my eyes I am seeing a range developing with a slight hint of a bearish bias. It looks to me that price is still retreating to go into demand zone at 37,200.

January 11th is CPI and I think it could spike up and over the 200sma for the fade back down.

Note

Note

I am expecting around another 625 point range for the week as the last three weeks have been around 600-800 points each. I am also expecting the week of December 18th's low to possibly be taken as well.

Note

Gameplan for Monday's Open.

Range play: sell the highs, buy the lows

Trade closed: target reached

Bought the lows of the channel bottom. First trade I got in too early, took a 50 tick loss. Waited for three pushes down and got in again with that fat bull 180 engulfment candle. Took profits before the first pivot high. Didn't care that it went further. Overall daily performance was +152 ticks on 6MYM contracts

Note

Tueday Gameplan:

The short term trend is still down, will look for shorts if closing below back inside the down channel. Again, I will have no idea what is in store but will see tomorow.

Note

It's funny that on the market close on the 15' chart that they almost gave an engulfment short. I bet the market will open up way lower tomorrow, robbing traders of a nice short.

Dow_Jones_Maestro

Related publications

DOW 2024 Bear Market Top In Place 37% Sell Off In 18 Months

by Dow_Jones_Maestro

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.