This is a very good example of when to do a strangle. The market is about to choose which direction to go in soon. You have NFP tomorrow, earnings for LB in 2 weeks, and a rate hike decision coming up. This is the perfect cocktail to take advantage of a big move. LB is down 11.7% today and could potentially continue down further. I have no idea which way LB...
I'm playing the triangle here on AAPL. I'm going Long aapl with a 97.50 strike call and hedging with a 90 strike put 2 months out. I figure if AAPL falls then the market will fall... either way there should be a nice move.
Dow hits fractal buy signal and immediately retraces during the following week. Internal correction isn't overly harsh yet, hold on to longs if you trade this timeframes, new ATHs still not far away, let market breath.
Use the chart as trading map for US30.
1. Green Lines\Arch - support areas where price can take support
2. Red Lines\Arch - resistance areas where price can get resisted
3. Yellow Lines - Trend changers
4. Blue lines - Lines where price can take support/resistance
One can use this chart as trading map for next few months.
Posted this a few days ago.. posting two potential shorting opportunities. We have hit the 200MA on the 1h and the 50MA on the 4H chart. We may get a small bounce up here to start the week and then we will see if we can continue down.
Use low leverage and open trades with a small percentage of your account.
If you would like to join my investment PAMM account go...
As we see over our previous chart, market managed to hold trades above support 17480 while broke the triangle formation as we see over the chart which managed to fuel the Dow rally so far
market built support zone at 17690 – 17730 where as long as market holding above this zone will expect market to sustain advance toward 18000-100...
The index has broken out of the recent corrective structure to the upside and this breakout should get the index at least towards the all time highs seen in mid 2015 or to new record highs, plenty of buy opportunities here!
The Dow Jones Transports index is considered a good indicator of what the next move will be affecting the wider market.
The reason for this is because transports are a good indication of economic health. Lower patronage and goods moving means lower economic activity.
A few notes about the chart.
The orange line is the DJ30.
1. Looking at the first green flag in...