TradingView
themarketzone
Nov 13, 2016 7:30 PM

192-200$ the next weekly resistance zone for the Dow Short

SPDR Dow Jones Industrial Average ETFArca

Description

The elections result sent DIA back above 182$ and triggered a false break scenario that eventually drove DIA to new record high.

DIA is approaching a weekly resistance zone that starts with the completion zone of a bearish Butterfly pattern.
The other resisting elements are the two trend lines shown at the chart.

192-200 is a weekly resistance zone and with a stop loss above 200$ you can still get about 1:1 R/R as you can see.

Read more and get more trading ideas in this week's newsletters (link in signature)

Comment

Approaching the PRZ
More