Hello everyone this is my Dowjones industrial idea on 1 hour time frame ..
Price is stuck inside this triangle waiting for a breakout .. our plan is to make an entry on breakout with the targets on the chart … on few conditions ..
Bull ( buying thesis )
If price close above red line I wanna buy to target zone above .. my stop loss is 1 hour candle close below green line
Bear ( selling thesis )
If price close below green line i wanna sell to target zone below .. my stop loss is 1 hour candle close above green line
Note : RSI indicator can give us a clue about the breakout .. watch those two lines for a breach
for any question feel free to ask and good luck :)
Price is stuck inside this triangle waiting for a breakout .. our plan is to make an entry on breakout with the targets on the chart … on few conditions ..
Bull ( buying thesis )
If price close above red line I wanna buy to target zone above .. my stop loss is 1 hour candle close below green line
Bear ( selling thesis )
If price close below green line i wanna sell to target zone below .. my stop loss is 1 hour candle close above green line
Note : RSI indicator can give us a clue about the breakout .. watch those two lines for a breach
for any question feel free to ask and good luck :)