DOW JONES High probability buy opportunity.

2023年3月8日

Dow Jones quickly reached our first two targets (see bottom of the idea for the previous analysis).
Yesterday's rejection on Pivot Zone (2) creates the conditions for a new buy position since the index entered Pivot Zone (1) again.

Trading Plan:
1. Buy on the current market price.
2. Buy if it closes a candle over the MA200 (4H).

Targets:
1. 33500 (inside Pivot Zone (2) and on the tranjectory of the MA200 (4H)).
2. 34300 (near Resistance 1).

Tips:
1. The RSI (4H) has a Rising Support similar to late December. In fact the two bottom formation are very much alike, both bottomed on a Declining Support and initially hit Pivot Zone (2).
2. 1. The MA50 (1D) moves parallel with Support (2) and essentially has provides the same level of support pressure as that level. Trend changes long term if it breaks.

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Notes:
This is an extension of this trading plan: