Dow Jones reached the top of the Channel Up that started in late October and turned sideways.
The longer this pattern stays intact, the more every pull back is a buy opportunity.
The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend.
Trading Plan:
1. Buy on the current market price.
2. Sell below the MA50 (4h).
Targets:
1. 37800 (under the 1.382 Fibonacci extension which was the target top of the mid November consolidation).
2. 35600 (projected contact with the MA200 4h).
Tips:
1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment towards the 1.382 Fibonacci.
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Notes:
Past trading plan:
The longer this pattern stays intact, the more every pull back is a buy opportunity.
The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend.
Trading Plan:
1. Buy on the current market price.
2. Sell below the MA50 (4h).
Targets:
1. 37800 (under the 1.382 Fibonacci extension which was the target top of the mid November consolidation).
2. 35600 (projected contact with the MA200 4h).
Tips:
1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment towards the 1.382 Fibonacci.
Please like, follow and comment!!
Notes:
Past trading plan:
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