DOW

pre-market has smashed through this level already so trade wont happen at that level.16333
The next level for strong support and attempt at first attempt is 15855. Again during market hours only. Use tight stops....This will be a risky trade as now the trend has clearly changed to down trend.This trade is trying to catch the bounce that always happens after a big down move. So short term trade.

remo wrote: Those doji showed why technicals are great. They were the warning signs for the correction on the dow.Hope some of you managed to get out at that time Atleast you heard it from here first


The dow is very close to its main uptrendline. Im going long on a first attempt during market hours at 16333. This is the main trend line for the up trend, so very important level.

weekly chart:

This chart shows the main trend line from far off. So should see why 16333 is important


Daily chart

This is a close up using daily.

im gonna go long on a first attempt basis at 16333 with a 100 points stop. Why 100 points?? Well im using 100 points as the markets are very volatile around major points , and this is as major as they come. I expect this to bounce on first attempt but if it fails then this will motor down even faster so hence why we have a stop loss.

ive been real busy of late with loads of projects (personal)and have not been on that much. Ill try and post more if i get some free time as markets have finally gone interesting Atleast this weeks share tips have some good trades in there and some not so good ones

Be safe and dont gamble too much

Wow what a bounce off the 200 weekly MA.

Dow is getting smashed....,stay out of new longs now....wait for the dust to settle...All supports are breaking down...

Oh I agree. I was just observing the bounce.

A good place to go short now would be a back test of the major trend line that got broken area... I'm waiting for the markets to settle before placing trades on Dow...

Wouldn't the top of the gap be a better place to short? It's above the trend line.