Is it possible to make multiple profits from a single chart ?
Affirmative. But the one rule you need to adhere to is :
You are riding on the major trend - in this case the Dow Jones is on a bullish
As you can see from the chart, buying opportunities at 1, 2 and 3 price entry difference is not that much but in the span of 60 minutes (2230 to 2330), you can take advantage of either one or two of them to ride the trend up.
And now , there is a 5th buying opportunity as the price action has break out of the resistance level at 28856 convincingly and the last closing candle was a bullish hammer pattern.
So in a single chart, you can invest for the long term like buy and hold till trend reverse and also perform intraday trading as well. Of course, for those seeking diversification of asset classes, this strategy may not be your cup of tea.
As usual, employ a trading method that you know well, always have a SL in place and manage your capital well. Trade safely.
You are riding on the major trend - in this case the Dow Jones is on a bullish
As you can see from the chart, buying opportunities at 1, 2 and 3 price entry difference is not that much but in the span of 60 minutes (2230 to 2330), you can take advantage of either one or two of them to ride the trend up.
And now , there is a 5th buying opportunity as the price action has break out of the resistance level at 28856 convincingly and the last closing candle was a bullish hammer pattern.
So in a single chart, you can invest for the long term like buy and hold till trend reverse and also perform intraday trading as well. Of course, for those seeking diversification of asset classes, this strategy may not be your cup of tea.
As usual, employ a trading method that you know well, always have a SL in place and manage your capital well. Trade safely.
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www.marketwatch...vous-2020-01-18?mod=home-p...
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There may be more selldown. Causes - can be a combination of the virus thing or major indices worldwide have been overbought and is time for a correction. But, corporate earnings are out this season so the sell down may not be so hard hopefully.
