Dow Jones Futures Daily Pullback Buy SetUp Wealth Building Trade
I will be placing a buy order as soon as Sunday Opens for a pullback on the daily chart. I will be placing my stop loss UNDER 2024's open price marked as the fat Cyan line as I don't believe price will return down there.
I will be going for the throat on this trade and will be adding all the way up to 48,500 as my target.
I will be disregarding my prior posts as I now see this is the actual price action. Very strong and getting ready to breakout to new all time highs again.
I will try to explain what it is I am seeing as best as I can.
Price has been staying up above the top third AND has been bouncing off 2024's open price with higher highs. Any time price stays above the top third, this indicates extreme strength and continuation of higher prices.
I will be risking 400-500 ticks below 2024's open price depending on how I get filled Sunday afternoon and will be targeting 49,000 area for 9,500 ticks. I will add on the way up to get as much out of this as I can so that I can buy more when it gets back down to 38,000 again for the next move up to 150,000
I will be going for the throat on this trade and will be adding all the way up to 48,500 as my target.
I will be disregarding my prior posts as I now see this is the actual price action. Very strong and getting ready to breakout to new all time highs again.
I will try to explain what it is I am seeing as best as I can.
Price has been staying up above the top third AND has been bouncing off 2024's open price with higher highs. Any time price stays above the top third, this indicates extreme strength and continuation of higher prices.
I will be risking 400-500 ticks below 2024's open price depending on how I get filled Sunday afternoon and will be targeting 49,000 area for 9,500 ticks. I will add on the way up to get as much out of this as I can so that I can buy more when it gets back down to 38,000 again for the next move up to 150,000
Note
Note
I believe I can get 6 good adds to this trade as price starts to unfoldTrade active
I just got filled and my price was 39,519. I placed my stop below that red line for a 925 tick stop. Stop price is at 38,594I am targeting 48,500-49,500 area. Somewhere up there at the 1.25 times range expansion.
I expect to add to this trade AND it should take roughly a year or 12 months of holding.
Trade active
Note
My add plan of every 2000 points. I will bail out before it hits the 1.25X range expansion and before that massive 25% spike down back down to the 0.50 level of 37,000.
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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.