Dow Jones is approaching the bottom of the 6 week Channel Up, the level that provided us with a low risk buy entry last time. The 4H technicals are in red (RSI = 36.764, MACD = 20.900, ADX = 24.648) and an oversold 4H RSI would be the ideal buy entry.
As long as the 1D MA50 holds, which is even under the S1 and the 4H MA200 (which is effectively the rising Support), we will stay bullish targeting the top of the R1 Zone (TP = 34,600). If the price breaks under the 1D MA50, we will hedge it with a sell, which we'll close at 32,500, near S2.
Prior idea:
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As long as the 1D MA50 holds, which is even under the S1 and the 4H MA200 (which is effectively the rising Support), we will stay bullish targeting the top of the R1 Zone (TP = 34,600). If the price breaks under the 1D MA50, we will hedge it with a sell, which we'll close at 32,500, near S2.
Prior idea:
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## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial