From the bottom chart which is a 240 min. chart, you can see a clear uptrend with a nice uptrend line. If price closes below that
trend line, it will have broke it's daily EMA support and price could
accelerate to the downside. The higher probability trade is going long
DIA near the present support levels. It has been easy to make money on the dips to support for a while, when the game gets to easy the market likes to give you a good slap up
against the head to let you know that this really is a tough game to play. So I will be on my toes and be ready to react when the time comes.
From the bottom chart which is a 240 min. chart, you can see a clear uptrend with a nice uptrend line. If price closes below that trend line, it will have broke it's daily EMA support and price could accelerate to the downside. The higher probability trade is going long DIA near the present support levels. It has been easy to make money on the dips to support for a while, when the game gets to easy the market likes to give you a good slap up against the head to let you know that this really is a tough game to play. So I will be on my toes and be ready to react when the time comes.
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