Dow Jones Transitioning Into Range August CPI Breakout

Dow Jones has now transitioned into a range. I will be changing my plays to range bound plays.

My thesis is it will spend 4 weeks going sideways before the August CPI report will breakout Long up to 42,000 and then up to 49,000.

I will look for sells in the red upper box and buys in green lower box.

I will use the quarter dotted lines as price targets and possible bounces off of.

I will be looking for runs of highs and lows for liquidity sweeps.

Each 25% level of this range is roughly 350 ticks.

The entire high to low of this range is roughly 1400 ticks


Here is a rough idea of how I plan to daytrade this range.



Looking to target swing highs and lows for sweeps
Looking to target each 25% level for profit targets


Entry Model: 15 minute chart
4 Hour Structure
Weekly Trend

50 tick Stops
150 tick Targets

3:1 risk to reward
40-45% win rate

Only 2 losses per trading day