Dow Futures Trading Strategy 24th November 2024.

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Dow Futures Trading Strategy: Buy Above 44,625 / Sell Below 44,075

Current Price: 44,440.00 USD

The RSI is currently at 81, indicating the market is in an overbought zone. Caution is advised at higher levels as the market may correct.


Key Levels:

Buy Signal: If the price closes above 44,625 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying.

Sell Signal: If the price closes below 44,075 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling.

Support and Resistance Levels:

Resistance: 44,750 and 44,866

Support: 44,384 and 44,262

Market Analysis:

The current price is around 44,440.00 USD, indicating potential for both bullish and bearish activity based on the key levels.

Pay close attention to the range between 44,075 to 44,625 for support and resistance levels.

Recommendations:

Buy: If the price sustains above 44,625 on the one-hour candle close, consider entering long positions. Book partial profits at 44,700 levels or use a trailing stop loss to protect your profit, with targets at 44,750 and 44,866. Buy only above the high of the one-hour candle close.

Sell: If the price breaks below 44,075 on the one-hour candle close, consider short positions. Book partial profits at 44,100 levels or use a trailing stop loss to protect your profit, with targets at 44,000 and 43,900. Sell only below the low of the one-hour candle close.

RSI Analysis:

The RSI is currently at 81, indicating the market is in an overbought zone. Caution is advised at higher levels as the market may correct.

Disclaimer: This analysis is for educational purposes only. Always trade with stop-loss and trailing stop-loss to protect your profit and limit your loss. Buy only above the high of the one-hour candle close and sell below the low of the one-hour candle close. Please conduct your own analysis before making any trading decisions.
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Sell Below 44575.
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