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Chris Capre
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Chris Capre is a professional forex, index futures and commodities trader, specializing in Price Action & Ichimoku trading. Chris applies his methods to the markets both intraday and medium term swing trading, and has been trading for over 13 years. He is also the manager for a private fund... More
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2ndSkiesForex
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2ndSkiesForex
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Trading Price Action and Pivot Points
  • Dow Jones Key Support Comes Under Pressure | Oct. 29th 0 comments
    Oct 29, 2012 6:24 PM

    Dow Jones
    Skynet was offline today, along with all human traders as hurricane Sandy forced US exchanges to close today. Regardless, a key support level in 13000 is coming under pressure for the Dow Jones. Although a decent sized pin bar formed Friday off this level, pressure remains on the major index, and should the key support fail, 12750 and 12500 will be under attack shortly after.

    Bears currently have control so intraday pullback setups towards 13150 and 13300 are good areas to sell on rallies. Bulls will want to see more stability here, or a deeper pullback before entering long.

    (click to enlarge)

    For those wanting to learn to trade price action, access to the traders forum, lifetime membership & more, visit my Price Action Course page here.

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