DIA should go up until the beginning of December...
Updated
I am using the Heikin Ashi candlesticks as they show more of a directional movement thru the charts. Typically, you should wait until there are 2 green Heikin Ashi green candlesticks before entering.
The typical uptrend of the DIA has been about 10-12 days.
The typical move of the DIA has been about a 25 pt move per month which is about 454.
The target of the 1.618 Fibonacci is 453.
And typically the DIA has moved about 10 to 12 days up which would be about Dec 9th as a target.
Even though you do not see the daily indicators shifting, if you look at the 6 hour charts, you can see the Stoch RSI moving upward, but the MacD and the DMI are not indicating a move upward just yet. And typically, I would like to see 2 green Heikin Ashi DAILY candlesticks before entering the market.
The DIA will move upward until about Nov. 26 then it will trade sideways around the US Thanksgiving before it keeps moving upward until around Dec. 9th.
The FED meeting is on Dec 17-18th with the meeting associated with a summary of economic projections. I suspect this will be slightly negative as there will be a downward movement around that time until Christmas.
As I have said in my previous charts, I find the 5 minute indicators show what will happen in the next half hour, the 10 minute indicators show what will happen in the next hour, the half hour indicators show what will happen in the daily charts and the hour indicators will show what will happen over the next few days. (My opinion, not fact)
I trade simple ... if I can't see the trade in a few simple steps, then this is not the trade for me.
Also, I explain my trades in more detail for me, not for you. Repetition is the key for me. If I repeat it over enough in my head, it will more likely stick.
Happy Trading everyone!!! :-)
The typical uptrend of the DIA has been about 10-12 days.
The typical move of the DIA has been about a 25 pt move per month which is about 454.
The target of the 1.618 Fibonacci is 453.
And typically the DIA has moved about 10 to 12 days up which would be about Dec 9th as a target.
Even though you do not see the daily indicators shifting, if you look at the 6 hour charts, you can see the Stoch RSI moving upward, but the MacD and the DMI are not indicating a move upward just yet. And typically, I would like to see 2 green Heikin Ashi DAILY candlesticks before entering the market.
The DIA will move upward until about Nov. 26 then it will trade sideways around the US Thanksgiving before it keeps moving upward until around Dec. 9th.
The FED meeting is on Dec 17-18th with the meeting associated with a summary of economic projections. I suspect this will be slightly negative as there will be a downward movement around that time until Christmas.
As I have said in my previous charts, I find the 5 minute indicators show what will happen in the next half hour, the 10 minute indicators show what will happen in the next hour, the half hour indicators show what will happen in the daily charts and the hour indicators will show what will happen over the next few days. (My opinion, not fact)
I trade simple ... if I can't see the trade in a few simple steps, then this is not the trade for me.
Also, I explain my trades in more detail for me, not for you. Repetition is the key for me. If I repeat it over enough in my head, it will more likely stick.
Happy Trading everyone!!! :-)
Trade active
Here is the 5 hour chart. If you zoom closer on the Stoch RSI for the 5 hour chart you will see that it is indicating a move upward. And if you looked at the 1,2,3 and 4 hour chart it is also indicating a bullish move.
Trade closed: target reached
My target on the chart was not hit. IT fell slightly short of it. But my Dec. 9th was hit, so I am now out of this trade.
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