DOW (US30) - 1D - Similar to the NASDAQ Idea
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Underlying:US30
Time frame:1D
What Has Happened So Far:
As we all know, the stock market has been on a HUGE run up and has showed no signs of stopping. Trying to prediect where it might is incredibly deadly to your account balance so be careful whenever entering into short positions! Right now the two EMA's on the MACD had the queeze and expansion which happens quite often (shown by the first orange arrow on the MACD indicator at the bottom of the chart). It then had the expansion and subsequent rally, more often than not after the expansion you will then see a "pull back" on the MACD which means a possible pull back in the prices of the stock markets.
What am I Looking to Happen:
I am going to look for the market to move back into the trade range it established for quite some time as this is a significant "technical" point. Once we get back into the trading range (shown by orange trend lines) I will then re-assess to see if we could see an even bigger decline!
Target Profit:22350 (first target with possibly more later)
Stop Loss:23100
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying:US30
Time frame:1D
What Has Happened So Far:
As we all know, the stock market has been on a HUGE run up and has showed no signs of stopping. Trying to prediect where it might is incredibly deadly to your account balance so be careful whenever entering into short positions! Right now the two EMA's on the MACD had the queeze and expansion which happens quite often (shown by the first orange arrow on the MACD indicator at the bottom of the chart). It then had the expansion and subsequent rally, more often than not after the expansion you will then see a "pull back" on the MACD which means a possible pull back in the prices of the stock markets.
What am I Looking to Happen:
I am going to look for the market to move back into the trade range it established for quite some time as this is a significant "technical" point. Once we get back into the trading range (shown by orange trend lines) I will then re-assess to see if we could see an even bigger decline!
Target Profit:22350 (first target with possibly more later)
Stop Loss:23100
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
