Dow Jones Range Bound Sell Into Peak Formation 13:1 Trade
I will be placing my sell order at the Peak Formation High at 42,845 with a 50 tick stop.
I will be targeting the low on Wednesday September 25th at 42,200.
Because Dow is in a range consolidation, I will buy the lows near 42,000 and sell the highs near 43,000. I don't know when the trade will trigger but I will leave it there until it triggers with an OCO order.
Any time price pulls back into a peak formation, whether it be low or high, prices tend to hold and reverse. The fact that you have two lows suspended above support from FOMC is a clue they will get ran. Also, the fact that Friday's parabolic long trade already got taken out is a clue to more downside to come.
I will be targeting the low on Wednesday September 25th at 42,200.
Because Dow is in a range consolidation, I will buy the lows near 42,000 and sell the highs near 43,000. I don't know when the trade will trigger but I will leave it there until it triggers with an OCO order.
Any time price pulls back into a peak formation, whether it be low or high, prices tend to hold and reverse. The fact that you have two lows suspended above support from FOMC is a clue they will get ran. Also, the fact that Friday's parabolic long trade already got taken out is a clue to more downside to come.
注释
We WILL be returning to 42,00 in this range. The FOMC wick is a target for price to return to as well.
注释
This trade did not play out as price was layering into the lows, working the lows. Price did target the red lines of support that was supposed to be the target had price rallied up farther and triggered the trade.
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