Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Dow Jones Index – Resistance Capped Offering Range Play
After making a third attempt to breach the yearly highs at 16560, the Dow Jones ran into heavy sellers today forming a large engulfing bar. This sell-off keep the consolidation and range in play, offering a buy setup on the bottom of the range. We’ll look for a small buy play on the bottom of the range around 16235 with a tight stop below. Upside targets are 16400 and 16550. A 4hr or daily close below the lows would test buyers around 16150.
Are you using a risk model that throws money away? Find out by reading our latest article Fixed % Equity vs. Fixed Dollar Amount | Which is Better?…... Keep reading