Posted by: joetradingplace | May 19, 2015

Dow ready to drop??????

I am not trading this market at the moment because price has been stuck in a tight range, it has been choppy and me as a trend trader its not a market that will make me money. If you look at the daily chart you can notice that price is moving higher, but seem to be struggling. The most significant zone now on this market is the one marked in red box, price might come back and bounce off. But i am favouring price going through the zone and retesting it from below, then tumbling down. Lets watch this market in the coming days/weeks/months to see what happens when price comes back to the zone.

Screen Shot 2015-05-19 at 21.03.39

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