April 11th, 2017 Watch-list
Hey traders! Doji candle for the DJIA today as we closed slightly in the green. The 20sma and 50sma are still acting as key areas of support and resistance as we've seen the DJIA pinch right between those moving averages (able to break above or below them at times, but unable to close above or below them). Continue to watch those levels for a breakout or breakdown going forward. Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
KLDX: KLDX gave us an initial buy signal Friday and I know many of you jumped in, however many didn't due to the fact we did not have a white candle (criteria for more conservative traders). Today however, following a fall early, we were able to secure all of the necessary buy criteria again, including a white candle on the daily chart. For those who are in, make sure to have your 1/2 R/R ratio stop loss in place. If your broker allows, also consider having your profit target set as well. Chart below for review!