DOW

on the dow i always place 40 point stops.
That dow trade stop has already activated
With the dow and currency markets its best to use around 40 point stop due to the volatility.
If theres no stops attached then it can become emotional .

Tell me about it. I had considerable success trading indices in March/April. Volatility provided by Italian elections and Cyprus situation were catalysts.
I got carried away, started to trade impulsively, and paid the price.
Now, I am relearning T/A's, and doing mock trades.Intensive practice and then start trading again.
your website is helping a lot.

I reckon that was the end of wave A of 4. Any views?

updated chart -

+div still in place...bounce then more down imo. half way into the correction...next move will be quick Heavy thrust down...then new highs from from 14200-14500 zone.. specif targets to be assessed when near those levels

14900 key area

dl.dropboxusercontent.com/u/40497882/dow_channel_Jun04v2.JPG




added potential moves over till end of June...




dl.dropboxusercontent.com/u/40497882/dow_6th%20June.JPG

Yep, nice WS. I'm looking at 14921 (23.6% Fib of the wave 3) with a stop below the previous breakout level at 14887 for a nifty long here. It's been pointed out to me on my blog that the 161.8% extension of the initial drop is also at 14934 too so there's a few levels to look at there:



dl.dropboxusercontent.com/u/20815047/FTS...owdaily05_06_13a.gif

PS Shouldn't your wave C projection have 5 subwaves not 3? (Unless you're counting it as a double three?)

Hi J - big waves abc 3 wave move. internal structure will consist of wave of 3's and 5's, so final C will have 5.


also area's u mention looks a good spot

trade well my friend....