DOW

dow - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...8bx+5HrXM5sT3X1GJlI=

you have this support from Dec 2018

dow - daily close up.
uk.advfn.com/p.php?pid=chartscreenshotsh...8CxLnPXryWQT5r6tCLM=

no real pattern or logic in these markets....when you thin its going down it goes up and vice versa...
does seem to be retesting key levels and then moving down....

so more of a controlled fall rather than the free fall we had in the first move down...
the rsi is bang on resistance if it doe so up today...and we could well get a decent rally...
it does look like it will gap down from the futures...how big will the gap be??

atb, wdik, dyor,
trendfriend

Ive following the updates, like all on here very much appreciate the superior collective knowledge.
I’ve been trading the dow over the last week using the minute charts fairly successfully just using support and resistance lines to short and buy. Surprised myself with 7 out 7 trades.

Nothing off great value just fish and chips stakes.

I think the way it’s behaving has probably made it look simple for a novice.

The spike at close wasn’t expected as the market knew of trump’s tweet earlier in the day, so not too sure markets are attributing the rise to that.

Anyway hoping it hits bottom quite soon...

Stay safe

The trendline held nicely but I doubt it will again. I think we're still in correction mode in the downtrend. I can see this getting near the 25000 mark before the next phase down which (imho) will take a fair bit longer. Speculation of course.

Trendfriend wrote: Yeah i was talking about the rising trendline the one you drew right at the top...

yeah!...i'm as good Remo...but only in hindsight!

anyway...zooming out still on the 5 min chart....this has been in this triangle all of this week...

my chart will be very different to yours as its market hours only...

dow - 5 min.
uk.advfn.com/p.php?pid=chartscreenshotsh...SpdRMb3dQt5x6b/ZiLE=

the direction of breakout from the triangle should see a strong move in that direction...
the numbers change every 5 mins...

good luck....your a lot braver than me...

atb
trendfriend

Got it!

You're a Legend TrendFriend!

(alas, I'm not brave or braver - in fact when it comes trading, I'm both reckless and feckless!)

Yeah i was talking about the rising trendline the one you drew right at the top...

yeah!...i'm as good Remo...but only in hindsight!

anyway...zooming out still on the 5 min chart....this has been in this triangle all of this week...

my chart will be very different to yours as its market hours only...

dow - 5 min.
uk.advfn.com/p.php?pid=chartscreenshotsh...SpdRMb3dQt5x6b/ZiLE=

the direction of breakout from the triangle should see a strong move in that direction...
the numbers change every 5 mins...

good luck....your a lot braver than me...

atb
trendfriend

Cheers TF,

scalping was the order of the day, but even 5 minutes can last a life time sometimes!

If today's low goes (it could go tomorrow - friday remember? - no one likes to hold), then I'd expect crazy moves to 18000 or thereabout, but not before a lot of shorts get burnt.

quick question: which line do you mean when you said "the rising trend line"? the top one of the three?

Also, do note that right now, it's struggling to break through the bottom of the three fork-like trendlines.

Lastly, regarding your chart, how I'd love to short that move, but I can't - I just can't. That one I'll leave to Remo!

(and of course you're a very good trader! )