Dow Jones has now transitioned into a range. I will be changing my plays to range bound plays.
My thesis is it will spend 4 weeks going sideways before the August CPI report will breakout Long up to 42,000 and then up to 49,000.
I will look for sells in the red upper box and buys in green lower box.
I will use the quarter dotted lines as price targets and possible bounces off of.
I will be looking for runs of highs and lows for liquidity sweeps.
Each 25% level of this range is roughly 350 ticks.
The entire high to low of this range is roughly 1400 ticks
Here is a rough idea of how I plan to daytrade this range.
Looking to target swing highs and lows for sweeps
Looking to target each 25% level for profit targets
Entry Model: 15 minute chart
4 Hour Structure
Weekly Trend
50 tick Stops
150 tick Targets
3:1 risk to reward
40-45% win rate
Only 2 losses per trading day
My thesis is it will spend 4 weeks going sideways before the August CPI report will breakout Long up to 42,000 and then up to 49,000.
I will look for sells in the red upper box and buys in green lower box.
I will use the quarter dotted lines as price targets and possible bounces off of.
I will be looking for runs of highs and lows for liquidity sweeps.
Each 25% level of this range is roughly 350 ticks.
The entire high to low of this range is roughly 1400 ticks
Here is a rough idea of how I plan to daytrade this range.
Looking to target swing highs and lows for sweeps
Looking to target each 25% level for profit targets
Entry Model: 15 minute chart
4 Hour Structure
Weekly Trend
50 tick Stops
150 tick Targets
3:1 risk to reward
40-45% win rate
Only 2 losses per trading day
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.