DOW JONES Still ranged. Keep scalping for maximum profits.

Dow Jones (DJI) followed the exact trading plan that we published last Wednesday as it rebounded on the 4H MA200 (orange trend-line) and today reached the Resistance Zone of 34300 - 34370(August 16 and January 15 Highs respectively). This keeps it neutral as we expected within the rough 33640 - 34180 Scalping Range:


The 4H MA50 (blue trend-line) has assumed the role of the Pivot and the 4H MA200 (orange trend-line) that of the Support (all candles closed above it). Our short-term trading plan remains scalping this range for as long as the price remains/ re-enters inside it. On the more medium-term, above the green Pivot Zone we are buyers targeting 34300, while below the Higher Lows trend-line we are sellers targeting 32700 (above the 32480 Support). Similarly, we will take the buy break-out if the price breaks the 34370 January 15 High and target the 34910 December 13 High.

Keep in mind that this Higher Lows trend-line is what helped us take this accurate buy entry 4 weeks ago as you can see on the chart below:



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