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Trading the Dow30: O’Hare
Steve O’Hare, of First4Trading.net, is looking to sell into rallies on the Dow30 (US 30 index).
He says price action has been contained since Q3 2015 in a slightly positive sideward moving channel.
Negative price action continued into this week with a rejection of the previous day’s rally and a head & shoulders formation is developing. He expects downward moves to continue.
O’Hare plans to sell in front of 17,785 and 17,845 with a stop being a move above 17,935. His targets are 17,550 and 17,000.
02:06 minutes
Tags: dow, dow jones, dow30, saxo, saxo bank, saxo bank saxo tv, saxo tv, saxotrader, saxotradergo, saxotv, steve ohare first 4 trading, trade idea, trader, tradingfloor.com
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