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Dow drops once again #47 (CBS)
The idea is for a short seller, swing trader but now need to wait for a support breakout or anticipate it
(Anticipate is not Predict) because the idea is based in price action
Swing trading need patience but is not like investing for the long term
My advice is wait for a support breakout 50.00 (price action crossing the red line, Red Candlesticks below the support line
And a pullback to the line that works like a new Resistance
Support becomes Resistance (Red Arrows= Resistance) (Blue Arrows= Support)
50.00 is key and round number, remember that this is important in Technical Analysis
That all, my idea is clear and easy to understand for a trained trader
(Anticipate is not Predict) because the idea is based in price action
Swing trading need patience but is not like investing for the long term
My advice is wait for a support breakout 50.00 (price action crossing the red line, Red Candlesticks below the support line
And a pullback to the line that works like a new Resistance
Support becomes Resistance (Red Arrows= Resistance) (Blue Arrows= Support)
50.00 is key and round number, remember that this is important in Technical Analysis
That all, my idea is clear and easy to understand for a trained trader
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