The DOW has not reached my ideal level, but the cycle is in, usually they are on time or 1 day out. To have any chance that this cycle is going to gain traction the DOW will have to fall to 25205.24, if this level is touched then you have to wait for the bounce up it will come that is sure. This is how the potential trade should be approached
For those of you that are more risk takers, you can also watch the yellow box and look for a move up into it and then wait for an engulfing candle or a spike or any sort of reversal pattern you like and go short.
I would prefer to wait for the break of the 25205.24 level then a failed bounce up to get in.
For those of you that are more risk takers, you can also watch the yellow box and look for a move up into it and then wait for an engulfing candle or a spike or any sort of reversal pattern you like and go short.
I would prefer to wait for the break of the 25205.24 level then a failed bounce up to get in.