Dow Futures- What next after 52 week low ?
Dow futures are trading near a very strong demand zone. the possibilities from here could be
the probability of it retracing to 30900 lvls looks higher due to harmonic pattern, AWAP support , demand zone plus few sellers would prefer booking something at these levels and few buyers would try to average out at these levels so that they get decent exit.
What could be a possible trade ?
Good risk - reward would be to go long with small SL of 28900 lvls got a target of 30900.
Let me know if you guys think otherwise or have any better idea
Safe Trading
- it keeps consolidating - accumulation happens for sometime in this zone and jumps from here
- it retraces quickly as per harmonic to 30900 lvls and falls from those levels
- it continues to fall and may come back to re-test and down move continues
the probability of it retracing to 30900 lvls looks higher due to harmonic pattern, AWAP support , demand zone plus few sellers would prefer booking something at these levels and few buyers would try to average out at these levels so that they get decent exit.
What could be a possible trade ?
Good risk - reward would be to go long with small SL of 28900 lvls got a target of 30900.
Let me know if you guys think otherwise or have any better idea
Safe Trading