Dow

Just one observation on this: if this makes a new low at the 200MA and support around the 12980 mark then it will look a lot like 5 waves down from 13662 don't you think? If so then it can't possibly form new highs on that bounce.

Waves can be subjective and difficult though so we'll have to wait and see...

Lol! Unlucky remo! I missed my long entry on GBPUSD by 0.0002 the other day too...

It bounced right near that trend line.
It went as low as 13052 so missed my entry yet again by 2 points...dohhhh
I'm cancelling my order at 13050 due to the 1 touch rule only.
My other order is still intact.
Remo

dow approaching trend line

Im going long on first attempt today at 13050 with a 25 point stop.Also the stop is below a support level near by at 13039
The reason for the tight stop is i want to have another trade in place at 12980 with a 40 point stop going long.
The 12980 area is a very important level and i expect this to hold during market hours . If we do finish below this then a big fall could follow.

DYOR
remo

I hope thats not the case .
It will right mess things up for my style of trading.
So will not place any trades until markets are open
remo

Remo, I think they're likely to be closed tomorrow too if I read G GOK's c&p correctly. I'll look for confirmation in the morning.