DOW Jones Industrial to bounce $44K target
Updated
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price bounced off 0.5 Fibonacci level
In at $43500
Target is $4400 or channel top
Stop loss is $43400
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom of channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
VBSM is negative
Price bounced off 0.5 Fibonacci level
In at $43500
Target is $4400 or channel top
Stop loss is $43400
Trade active
Stop loss is $43,000
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