.. This is an interesting chart of the Dow Jones chart under the Daily timeframe. Basically support and resistance levels can sometimes be the easiest way to get into a trade. The longer timeframes such as the Daily and Weekly charts are much more solid charts to trade off but they are for those who are more patient with their trading. I recommend the Daily charts for those who want to trade a few times a week and have other interests or a full time job. Anyway, back to the trading, f
Posts Tagged dow jones
Well, the DOW turning point I was expecting to see didn't happen and the market momentary moved lower before it powered back up taking me out for 1% loss on the account. That's the nature of trading, you win and you lose.. you just need to ensure that you win more than you lose! Hope next week brings some good opportunities!
I'm doing my usual analysis of the markets taking signals and trades of the Daily timeframes. The one that looks interesting today is the DOW, see pic below: Now you have to bear caution as the market is clearly in an uptrend.. however, the price action over the past week, looking at the daily charts, shows us that there seems be a band of resistance where the price is unable to get beyond. Of course, the markets can do anything but this does look like a worthwhile trade taking a 1:1 risk