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Dow Sells Off From Dynamic Resistance | Oct 2nd
Dow Jones Index – Sells Off +150 Points
In this weeks market commentary, we suggested selling off the 20ema for a with trend setup. Looking at the chart below, we can see how the US index did exactly that, forming a corrective pullback into the 20ema which was also a role reversal level, and then sold off over +150 pips in the last 24hrs. Those traders following this recommendation would have profited heavily, so hopefully you collected on this trade. Now the major index is threatening key support levels at 15030 and 15000. If those collapse, then 14935 and 14800 are up next, so traders can look to trade inline with the trend on pullbacks into the dynamic resistance.
Check out our latest article on Reviewing Trades – Two Crucial Tips
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