Dow DJI LONG but massive Resistance in Front
Hello to all watching my charts
Here i show the Dow Jones after the Fed Meeting
and market is closed on 19.6.2019
My channel system tells me we have still a Long Channel
and a long position should used.
BUT (what i normally not note ) we have now really
a lot of resistances in front which i have show also in blue color.
As you know form my other posts i always say:
Trend channel lines beats resistance lines
but if we such a power of resistance in front i cant ignore that.
So of course maybe this time trend beats also
but i would be very cautions with new longs at that point.
If you have a long position with a fine profit
maybe from 25100... i personally would tale the profit here
Please remember that.
Good trades
Renkotrade
Here i show the Dow Jones after the Fed Meeting
and market is closed on 19.6.2019
My channel system tells me we have still a Long Channel
and a long position should used.
BUT (what i normally not note ) we have now really
a lot of resistances in front which i have show also in blue color.
As you know form my other posts i always say:
Trend channel lines beats resistance lines
but if we such a power of resistance in front i cant ignore that.
So of course maybe this time trend beats also
but i would be very cautions with new longs at that point.
If you have a long position with a fine profit
maybe from 25100... i personally would tale the profit here
Please remember that.
Good trades
Renkotrade
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