BobVanders
Short

Triangle Break - Dow Jones Cash Daily

TVC:DJI   The Dow Jones Industrial Average Index
You can see a triangle formed on the uptrend from february, now broken. We also broke from an extended inside bar consolidation (yellow channel). If short from higher there's a good case to keep something on the table here. If not, a break of 18k should offer a pull back and retest as resistance. If that holds should be a good entry for the green levels marked.

Alternatively, if we reverse and break up through the downslope from the ATH             , reverse and look long for a test of the highs.

Clearly US election news and so on could provide a catalyst in either direction. Should be some good moves but stay nimble.
Trade active: So, you can see we've bounced out of 18k (around 2120 spx) and come back up into our previous range (on light volume) - but this could be seen as a retest of the underside of the broken triangle. So good place to be watching the markets. Initially short scenario is intact, looks to sell any reversal in the uptrend today. But we can put our stop outside the inside bar structure, around the 18300 mark, targetting a return to 18k and possibly below. If that 18300 stop gets hit, then we can look to reverse positions for longs to go up and test the ATH and likely break it.
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