DOW

MRA4 wrote:

I see on the daily chart that the Dow is Currently sitting on the trend line & ichimoku cloud support

rt1.e.prorealtime.com/ProRealTimeNew/dis...ib47xqnc227&type=png

Spot on MRA4
The only concern I'd have is the fact that it finished right near the trend line.That opens up the possibility of a breakout?
Normally prices would bounce off hard if the trend line was to have a impact on first attempt. This did bounce of it during the day but latter re-testing it. So best just stay on the side line to see what happens over the next few sessions relating to the Dow.

Are we going to see a bit of upside now????



www.dropbox.com/s/zcnl4ek6pksao4k/DOW%20Daily%2021.08.2013.png

Im looking to go long on first attempt of the trend line at 14650 on a first attempt basis with a 40 point stop during market hours only. This level changes daily.


dl.dropboxusercontent.com/u/4899609/dow21staug.png

worth a long on first attempt at 14664 for today only with a 40 points stop.


dl.dropboxusercontent.com/u/4899609/dow28thaug.png

Im looking to go long on a first attempt basis only on the dow at 14673 for today. This level changes daily.
This obviously has risk attached due to the Syria crisis but on a technical note worth the long on a first attempt basis during market hours. I always use 40 points stop

Ive got my order to short on the dow at 14931 with a 25 point stop.
This looks to me to be the top of the trading range based on the hourly charts.


dl.dropboxusercontent.com/u/4899609/dow4thsept.png

if it does breakout then likely to go higher so hence the tight stop.