SocialTrading
Short

DOW JONES (US30) - 1D - MACD Approaching "Cross-over"

FX:US30   Dow Jones Industrial Average Index
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Underlying:US30
Time frame:1D

What Has Happened So Far:
The market has continued to shift higher and sadly this is something we had to expect as we are in a bull market. We then saw a break out above the main trading range.

What am I Looking to Happen:
Currently the two EMA's on the MACD are closing the gap between each other (orange arrows on the MACD indicator), when we see this happening more often than not there will be a down move. I am expecting a move back down into the main trading range as price cannot increase exponentially.

Target Profit:The Bottom Trend Line in Orange
Stop Loss:23150

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