Long
DOW Futures - Long entry
Updated
DOW Jone future has been trading in a range for last few weeks - 33300 being the lower of the range and 35100 being the upper of range
during this consolidation - 50 DMA has acted as strong support and 20 DMA is acting as a dynamic trendline for DOW Futures
Possibilities
Strong possibility - during the consolidation of such magnitude it makes sense to test both lower and upper range at least once. it has tested lower range possibility of testing higher range would be very high
34500 is the magnetic price line for this range.. more than 90% of candles has touched this price point during consolidation.
Long Entry - whenever DOW futures test 50 DMA
SL - close below 50 DMA on a daily basis
Target - 35100
during this consolidation - 50 DMA has acted as strong support and 20 DMA is acting as a dynamic trendline for DOW Futures
Possibilities
Strong possibility - during the consolidation of such magnitude it makes sense to test both lower and upper range at least once. it has tested lower range possibility of testing higher range would be very high
34500 is the magnetic price line for this range.. more than 90% of candles has touched this price point during consolidation.
Long Entry - whenever DOW futures test 50 DMA
SL - close below 50 DMA on a daily basis
Target - 35100
Trade active
Lets see how it unfolds from here
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