Dow Jones Futures Bullish Move Into Resistance 450 Ticks 10 to 1
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I will be looking for a Long entry with a limit order at the price of 42,420 which is the High price of the September FOMC. I will use a 50 tick stop and target the resistance level of 42,975.
I believe this week will be bullish as the down move from earlier was counter trend. I closed my short position on Friday with the expectation that price will bounce off of September's FOMC High.
Sunday, price opened up with a fat bullish bar and gapped up 0.30% right out of the gate. This tells me that they are going for shorts back up to grab stops and retrace.
The space between resistance is a huge clue for me that this is where they are targeting. The 42,975 price was used as support multiple times but not as resistance.
The three pushes into the September's FOMC High indicates the down move may be the end and the move opposite is in way. Since the high was made during the September FOMC release, it has not been used as a solid support level. It was only used as a mean reversion level that price has been mean reverting around.
I believe this week will be bullish as the down move from earlier was counter trend. I closed my short position on Friday with the expectation that price will bounce off of September's FOMC High.
Sunday, price opened up with a fat bullish bar and gapped up 0.30% right out of the gate. This tells me that they are going for shorts back up to grab stops and retrace.
The space between resistance is a huge clue for me that this is where they are targeting. The 42,975 price was used as support multiple times but not as resistance.
The three pushes into the September's FOMC High indicates the down move may be the end and the move opposite is in way. Since the high was made during the September FOMC release, it has not been used as a solid support level. It was only used as a mean reversion level that price has been mean reverting around.
Not
Not
İşlem elle kapatılmış
This trade setup for me 100% how I wanted it to. I was able to get filled to the tick. I closed it for a 5 to 1 profit. The potential for a 10 to 1 was there but I am not greedy.
Not
So the giant massive Long I was looking for did not bounce off of the FOMC high but it blasted off at the FOMC open purple line. A massive 3% run
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