Tuesday, September 1, 2015
Another Reversal Trade on DOW (YM) Futures for 09/01/2015
The DOW futures have been getting decimated in the overnight trading sessions, but the 1-hour chart is showing a reversal setup. The RSI is showing a good divergence and there is a nice bullish engulfing candle that just closed. If the market does break north in the next few hours, the 16450 level may be a good target. This level held up price quite well, so I would say this level could now act as resistance. I usually play these trades with a buy-stop order at the high of the bar and a stop-loss order at the low of the candle.
