Dow Jones Futures August-October Range Into Daily Support
I see a well-defined bull channel, albeit very choppy and rangey. I believe the market will try to build a bigger Long position in this upcoming range before the explosive move higher to 42,000.
On the Daily, you can see the support from August 13th's high and August 14th's low. The gap left behind from August 15th will likely get filled once price retraces back into the support zone.
On the 4 Hour chart, we are at a topping formation with the next leg of moves being bearish back into Daily support. When daytrading on the 15 minutes, I need to pay attention to the bearish order flow until we reach said support and focus on sells in the meantime. Once in support I will start looking for buys again until we reach the top of the range once again.
Seeing how Jerome Powell will be giving a speech tomorrow at Jackson Hole and how we are now in bearish order flow structure, I am betting on Friday being a sell off after a run up.
On the Daily, you can see the support from August 13th's high and August 14th's low. The gap left behind from August 15th will likely get filled once price retraces back into the support zone.
On the 4 Hour chart, we are at a topping formation with the next leg of moves being bearish back into Daily support. When daytrading on the 15 minutes, I need to pay attention to the bearish order flow until we reach said support and focus on sells in the meantime. Once in support I will start looking for buys again until we reach the top of the range once again.
Seeing how Jerome Powell will be giving a speech tomorrow at Jackson Hole and how we are now in bearish order flow structure, I am betting on Friday being a sell off after a run up.
Ghi chú
I will be looking for a sell off of 250 ticks on the Dow after a pump and dump from Jerome Powell's Speech.Giao dịch đang hoạt động
I used a limit order and got filled to the exact tick luckily. I am using 4R on this trade.I don't know if it will work out or not, nor do I care. I take my swings
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.