27 Dec DOW Day Trading Map For This Low Volume Week
Whilst volumes are low this week I’ve taken a break from hunting out new swing trades and will be spending my time day trading Indices.
Here follows my current trading map of the DOW:
On 4 hourly I have a line at 12,322
Absolutely no idea why I’ve put this line there and no idea why I’ve only got it on the 4 hourly time frame. Whatever made me put it there in the first place (a long time ago) would have been a good reason, and, thus far the 4 hourly candles have struggled to get a candle body above this line:
On the 15 min there were a few lines that led us to the pattern we’ve now got, but I’ve deleted them as no longer relevant. Based on what’s left, the green line was part of a smaller rising wedge and could now offer a short entry if it is backtested.
The red lines will become the channel we are trading in, and whichever line comes first there should be a good trade to be had. Ideally the lower line for a long entry, especially if this combines with the 200MA or better still, converging 100 and 200 MA’s. However with volumes so low meaning participation at key levels may be minimal we need to be ready to alter this plan as price depicts.