YM DOW Sell Set Up On 1 Hour RTH Chart Wednesday 17th JanI will be looking for a couple more green candles to rally into the declining hourly 21ema. I will keep raising up my sell limit order under the body of the highest green candle until a red candle eliminates it. The candle can rally past the 21ema by a bit and is still acceptable, in fact, preferable. This would "close" the gap and hit stops up high.
I will be placing a stop above the high of that bar and will be using a 125 point stop. My target is a fixed 2 to 1 or 250 points. It has room for 450 points down to the red support line but I don't care. I am only taking my 2 to 1.
Dropping down to the 15 minute, the rally would be into the declining 200sma, which should halt it in its tracks. Its ok if it pops above by a little bit