Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis DJI : 2019-02-07
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 159418, member: 18359"] [SIZE=5][B]Strong data bullish for DJI[/B] [B][/B][/SIZE] Continuing expansion in private sector indicates US economy is strong. Will the DJI continue the rebound? Data after the Federal Reserve January 29-30 meeting were positive on balance indicating the US economy is strong. The Institute of Supply Management's manufacturing index’s final reading for January came in better than expected. The US economy created above-expected 304,000 new jobs in January as labor force participation rose. And while the services section expansion slowed in January, the expansion still continued at robust pace with employment and prices rising in the sector. The only weak spot were the drop in factory orders for November. Positive economic data are bullish for Dow Jones US stock index. [IMG]https://ifccd.net/uploads/image/DJI_O_07Feb2019.png[/IMG] On the daily timeframe the [B]DJI: D1[/B] is above the 200-day moving average MA(200), this is bullish. [LIST] [*]The [B]Parabolic indicator[/B] gives a buy signal. [*]The [B]Donchian channel [/B]indicates no trend yet: it is flat. [*]The MACD indicator gives a bullish signal: it is above the signal line and the gap is widening. [*]The RSI oscillator is falling but has not reached the oversold zone yet. [/LIST] We believe the bullish momentum will continue after the price closes above the upper boundary of Donchian channel at 25434.7. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the fractal low at 24315.6. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (24315.6) without reaching the order (25434.7), we recommend cancelling the order: the market has undergone internal changes which were not taken into account. [SIZE=5][B]Technical Analysis Summary[/B][/SIZE] [B]Position[/B] Buy [B]Buy stop[/B] Above 25434.7 [B]Stop loss[/B] Below 24315.6 [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…