COMPARING MY SATEMENTS FOR LAST TWO POSTS WITH THE ACTUAL MOVE IN DJI
1. In yesterday post point no 2. I clearly mentioned that if dow opens gap down . As it opened slightly gap down, one should wait for price breching red dotted zone to short . In monday post I clearly mentioned that swing high Z is the stop loss for shorts positional trade. That high is still intact. Both days post are attached for those who really want correct insight for this index. They can check all details to understand the present phase of dow.
2. As you can see price is still above the red dotted line so this is no trading zone for positional new traders . Those who are already in trade can put sl of Z point swing high. Now for new traders, for positional trades , let price break the lower end of zone and it sustains 30 mins after breaking then positional shorts can be initiated. Trend change to upwards direction when price breach Z swing high. Rest market will decide. YOGESH VATS
The pre-market is pushing towards your high Z this morning? If it breaks, it could create a short-squeeze in the near-term and a breakout to the upside? Whether it is a false- or real- breakout will be the test of your theory. Good luck.
yvatsji
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@canuk101, well as far as if it breaks then less chances of short - squeeze . the structure will change that i am not expecting therefore, not advised for new entrant to short at this trading area. In my monday post i clealy mentioned the phase of this move. Even dow futures are also sycn with this analysis. rest market will decide.