DOW JONES Channel Up still intact.
Dow Jones reached the top of the Channel Up that started in late October and turned sideways.
The longer this pattern stays intact, the more every pull back is a buy opportunity.
The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend.
Trading Plan:
1. Buy on the current market price.
2. Sell below the MA50 (4h).
Targets:
1. 37800 (under the 1.382 Fibonacci extension which was the target top of the mid November consolidation).
2. 35600 (projected contact with the MA200 4h).
Tips:
1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment towards the 1.382 Fibonacci.
Please like, follow and comment!!
Notes:
Past trading plan:
The longer this pattern stays intact, the more every pull back is a buy opportunity.
The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend.
Trading Plan:
1. Buy on the current market price.
2. Sell below the MA50 (4h).
Targets:
1. 37800 (under the 1.382 Fibonacci extension which was the target top of the mid November consolidation).
2. 35600 (projected contact with the MA200 4h).
Tips:
1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment towards the 1.382 Fibonacci.
Please like, follow and comment!!
Notes:
Past trading plan:
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