JillyB
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Inside or Outside?
The Dow at the moment is at 11,406, which is right on the high of yesterday. So the question is will it open inside or outside the range?
Either way the trades are very similar and both give an initial small rise between 10-25 points and after this a SELL trade back down to the previous close at 11,381.
If it opens outside the range, there is a chance that this upward movement could continue all day. If it goes up more than 40 points above the open, then there is usually no reversal - but again this will depend on where the open is.
I will update this when I know the open and which trade it is.
EDIT: 14.38
There was a late upsurge which took the open to 11,420. This is a different trade altogether - as it is now well above the high. This is Trade 46.
The last time this happened was 6th December 2005 - which means that I haven't real time tested this trade, so it will be a watch and observe day for me.
If anyone is interested it says that there will be a drop to the high at 11,406 and that this may go below (but doesn't state by how much). There will then be a reversal for a BUY trade to continue the uptrend until the lunchtime consolidation.
I'm not sure how accurate this is and I will be looking to add more detailed information to it from what I observe today.
The Dow at the moment is at 11,406, which is right on the high of yesterday. So the question is will it open inside or outside the range?
Either way the trades are very similar and both give an initial small rise between 10-25 points and after this a SELL trade back down to the previous close at 11,381.
If it opens outside the range, there is a chance that this upward movement could continue all day. If it goes up more than 40 points above the open, then there is usually no reversal - but again this will depend on where the open is.
I will update this when I know the open and which trade it is.
EDIT: 14.38
There was a late upsurge which took the open to 11,420. This is a different trade altogether - as it is now well above the high. This is Trade 46.
The last time this happened was 6th December 2005 - which means that I haven't real time tested this trade, so it will be a watch and observe day for me.
If anyone is interested it says that there will be a drop to the high at 11,406 and that this may go below (but doesn't state by how much). There will then be a reversal for a BUY trade to continue the uptrend until the lunchtime consolidation.
I'm not sure how accurate this is and I will be looking to add more detailed information to it from what I observe today.