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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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Trading Price Action and Pivot Points
  • Dow Jones Forms Pin Bar Off Critical Resistance | Dec 12th 0 comments
    Dec 12, 2012 8:02 PM

    Dow Jones Index
    Over the last month, the Dow Jones Index has climbed impressively, gaining almost 800+points. But today it ran into key resistance at 13300, forming a large bearish pin bar after three attempts. This was after helicopter Ben hit the CTRL + P button, so the half life of CB intervention is now down to hours.

    I will be looking at any corrective pullbacks into 13150 and 13075 with tight stops above. Clearing above this resistance puts the yearly highs at 13600 which certainly has sell orders parked there, while bulls can use this upside break to target this yearly resistance.

    bearish pin bar price action dow jones dec 12th

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