Dow Screams Higher From Pin Bar Off 200DMA | Oct 10th

Dow Jones – Second Best Day for 2013
Yesterday we talked about the pin bar off the 200dma + the rounded bottom as a likely covering point for bears, anticipating the major index would climb higher. Today it did exactly that, forming its second best daily gain for 2013, screaming over +250 points higher. On the 4hr chart, we can see a with trend pin bar, suggesting intraday bulls were happy to scoop it up on the cheap. I’m suspecting this bullish momentum should continue, perhaps after a brief dip. Traders can look for intraday buy signals towards 15020 targeting 15100, 15200 and 15260.

dow jones pin bar off 200dma price action 2ndskiesforex

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Where do you see Dow Jones going for this week?

    • Hello Adam,

      Haven’t decided if we’ll comment on the Dow in this weeks weekly commentary. If we do, I’ll definitely share my price action analysis on it.
      But I do not give personal analysis requests as that service is for course members which you are welcome to join.

      Kind Regards,
      Chris Capre

      • How often do you issue personal analysis requests to course members?

      • Hello Adam,

        Well first off, my job as an educator is to teach my traders how to fish, not fish for them as there is no learning experience in the latter. But there is in the former.
        Second, my students learn the tools to read the price action in real time and make their own analysis.

        Where I come in is, if they say to me, ‘where do you see Dow going?’, my first response will be, ‘Share with me what you see in the price action using our models, and then I’ll respond.’
        This allows me to see what they see, what they don’t, what they understand, and what they are missing. From here, then I give my analysis, thoughts and try to show them what they are missing, what they are seeing correctly, and what to look forward from there.

        So hopefully this gives you an idea how I work with my students, which is a much more proactive form of learning.

        Kind Regards,
        Chris Capre