DOW

Good question Ade, The Americans are eating more Big Macs, thats what happened!!
Thats the fundamentals out of the way...
technicals now...
The Dow has broken above the 200 day moving average in some style...
Questions is will it come to test it again??
in which case we will some kind of pullback at some point...hmmm

currently 17446 so what happened?

This should be a free trade now
That was a perfect trade. currently up over 100 points in profit so this should be a free trade now..


dl.dropboxusercontent.com/u/4899609/dow22ndoct2015.png

If this hits the 200ema during market hours worth a quick short on first attempt. Im gonna use 40 point stop.


dl.dropboxusercontent.com/u/4899609/dow20thoct2015.png

The back test area on the 60 min trendline is around 17560 area as this area has also got horizontal support so better chance of resistance holding.
Id only go short from an area that has more than 1 support when trading based of 60 min chart trend lines due to volatility of the time frame for accuracy.Also you have to be watching the index closely when trading using 60 min charts.




dl.dropboxusercontent.com/u/4899609/dow60min9thoct2015.png

Andrew2013 wrote: Hi remo

Where do you current make the back test of the trend line now on the hourly ? It must be getting close

Regards

Hi remo

Where do you current make the back test of the trend line now on the hourly ? It must be getting close

Regards