Dow Jones Gap Up and Break Away 47,000 By Year End
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Because the Dow is accelerating in its trend and the fact that last week was a bullish hammer, it is no Suprise that this week opened with a 0.5% gap up and rally.
I believe the rest of the week and the rest of the year will be extremely bullish with a target of 47,000 by year end. This will give 2024 a 20% gain for the year. It has been a very bumpy ride with its constant shake offs. Every time it has performed a shake off, it has rallied to new highs just as fast.
How I arrived at 47,000 was using two times the range expansion of the range formed up until August. It wasn't until August that the trend started to pick up steam.
I believe the rest of the week and the rest of the year will be extremely bullish with a target of 47,000 by year end. This will give 2024 a 20% gain for the year. It has been a very bumpy ride with its constant shake offs. Every time it has performed a shake off, it has rallied to new highs just as fast.
How I arrived at 47,000 was using two times the range expansion of the range formed up until August. It wasn't until August that the trend started to pick up steam.
交易开始
I am Long the Spike up with my target at 44,990. I plan on holding this all day for a 6 to 1. I don't believe price will return anywhere down near Sunday's open and am willing to hold this for a larger gain. If I am wrong I just take a small 1R loss.
交易手动结束
I ended up closing this trade for 150 ticks or 3 to 1 before the NY open as I am not sure if it will spike down against me first or spike up. I don't want to take any chances. I can always re enter in later. I admit I was a little late entering in as I didn't get to the screens until I was done watching Gladiator 2 in theatres.
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