Long
DOW - 200ma weekly tagged
- The DOW bounced off its 200ma weekly moving average and has moved back into the kumo cloud .
- Likely scenario will be a relief rally towards the open gap at 25200 and perhaps further if there is alot of short covering.
- Stochastics on the weekly are not yet oversold so i would be cautious to be all in for the long side, market needs to digest all the current events
- As always, i will follow the chart price action and take clues as they present themselves.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
- Likely scenario will be a relief rally towards the open gap at 25200 and perhaps further if there is alot of short covering.
- Stochastics on the weekly are not yet oversold so i would be cautious to be all in for the long side, market needs to digest all the current events
- As always, i will follow the chart price action and take clues as they present themselves.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.