DOW

Possible long coming.
Im looking to go long during market hours only at 16175 .
This is a first attempt trade and is the level where the dow broke out from.
Im using a 40 point stop.
stops are a must


dl.dropboxusercontent.com/u/4899609/dow23rdjan2014.png

My take on the DOW. These are Daily charts and they cover quite a large date range so they are split into two views; the C wave being the latter view; the B wave being the earlier view....

dl.dropboxusercontent.com/u/7238706/DOWwaveC.png

....to be clear, I'm not saying the pullback will occur now, merely that it is due and I would expect it to be around 23.6% of wave ((iii)). If this is the start of the pullback then I would expect it to finish around 15300.

This is the earlier view of wave B around the 2009 dip...


dl.dropboxusercontent.com/u/7238706/DOWwaveB.png

This is just my view and my way of labeling, which I know not everyone agrees with, so DYOR...

here you go.

1hr



10min

Can someone please post an hourly cash chart (not futures) of Dow from the 240 recent low?

TIA.

Just a quick take on "buying the DOW dips".

If it plays out, I'd consider entering at 16,174.51.




(just don't hold on for too long as a counter retail trade could be on its way!)

Wishing all CV patrons all the best!

Those who regularly frequent the chatroom will know that Wavesurfer is the master of this index (and remo, obviously!) but I think it's worth looking out for a break of the short term resistance of the flag during market hours on Monday which will be at the 16540 level.

Note that there was also an inside bar on Friday and that would suggest upside above 16525 and downside below 16379 (which was also the 23.6% Fib which comes into play a lot on this):



dl.dropboxusercontent.com/u/20815047/FTS...Dowdaily12_01_14.png

Remember your stops.