DOW JONES Triangle trades and breakouts
Dow Jones is trading within a Triangle pattern that starting forming on November 3rd.
So far we have have several rejections within its Lower Highs zone and rebounds within its Higher Lows zone.
Trading Plan:
1. Buy when the price touches the Higher Lows zone.
2. Sell when the price touches the Lower Highs zone.
Targets:
1. The bottom of the Lower Highs zone.
2. The top of the Higher Lows zone.
Tips:
1. If the price breaks above each Resistance, buy and target the next one. Vice versa, sell if the price breaks below each Support and target the next one.
2. The RSI is trading within its own Triangle. A breakout can be a leading indicator as to where the price will break as well.
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So far we have have several rejections within its Lower Highs zone and rebounds within its Higher Lows zone.
Trading Plan:
1. Buy when the price touches the Higher Lows zone.
2. Sell when the price touches the Lower Highs zone.
Targets:
1. The bottom of the Lower Highs zone.
2. The top of the Higher Lows zone.
Tips:
1. If the price breaks above each Resistance, buy and target the next one. Vice versa, sell if the price breaks below each Support and target the next one.
2. The RSI is trading within its own Triangle. A breakout can be a leading indicator as to where the price will break as well.
Please like, follow and comment!!
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