DOW:- WAIT AND WATCH STRATEGY
Dow opened at 32787 gave low of 32700. After an hour Dow broke yesterdays high and with no no time next candle stick made high of 33028. Yester day after making low of 32575 Dow recovered forming shooting star pattern, which is formed because of buyers emerging at lower lever an pushing index up. Today is follow up buying day. If Dow closes with green long candle.stick, It can be taken as reversal pattern and can go long after consolidation or above today's high. Yesterday suggested SL above red line. From last 1 hrs Dow is trading above red downtrend line. This is to be taken as bullish. Since yesterday low is 400 points along position must be closed below 50% of yesterday high and low ie 32750. But it suggested to go long after today's confirmation.
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