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Dow Jones – Breaks Out of the Re-Distribution Phase
Yesterday we opined the DJ index was stuck in a 70 point range that intra-day traders could take advantage of, buying off the bottom and selling at the top. Looking at the chart below, you can see the white vertical line when we posted the chart, so you could have easily bought 1x on the bottom taking profit towards the top, and then sold at the top with it hitting the bottom. Both plays could have easily had 15 point stops and 60 point targets for 4R returns, so hopefully you profited from that as savvy price action traders did.
Today after the FOMC comments, heavy selling ensued and the range …... Keep reading