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Tflow® trading on Dow Jones Index DJ30

Trade indexes…yes, you can use Tflow® too!

Let me illustrate how Tflow® can be use to analyse and trade Dow Jones Index DJ30.

 

Resistance on DJ30

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Resistance Shown by daily levels

Boxes to see immediate flow, WR

We can see that price has started a down flow upon touching a resistance mapped in daily chart (see above chart)

Current, price is doing resistance with 1234 mapped. Note that there are 2 counts of 1234.

If drawn an F6 from the larger structure of 1234, then price shown support at F6

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1234

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Triggers

To be conservative, triggers will be via F6 as there is no WR presented. However, price has shown very bearish candles, and so there can be a retracement back to Resistance zone which might steal some discount. At the point of preparing chart and time of posting this post, it was 8 hours apart, therefore a retracement back to resistance zone might have already happened.

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Do note strong support at 16000-20 and 15900, round numbers

 

Update on 28 March 2014 2.34pm by Binni

A retracement back to the resistance zone is not to be taken for granted that it will happen, but if anyone misses an entry or entry has too wide a stop loss, then retracement back represents a better price. Below shows retracement back to resistance  when F6 has not happened.

28 mar dj30 1

Currently price is being supported by 16170-80. Therefore a close below 16170 is important for a movement down

28 mar dj30 2

 

For students who can’t trade indexes with Axitrader, then your account is not a ‘standard’ account. You will have to change account type.

If you wish to trade indexes, then get a standard account from Axitrader using this link http://bit.ly/liveacct

Updated (8th Apr 2014 by Jerome)

Tweet given on 7th Apr 2014 at 2:47pm

Price completed the WRMB criteria on the close of the previous week (Wk14)

A H4 look at DJ30 shows completion of WRMB

A H4 look at DJ30 shows completion of WRMB

  • Currently price is encountering some support. Look for possible retracement to previous boxes highs as resistance.

Next Support levels can be clearly seen on the higher time frame charts

Next Support Levels clearly seen on D1 chart of DJ30

Next Support Levels clearly seen on D1 chart of DJ30

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2 thoughts on “Tflow® trading on Dow Jones Index DJ30”

  1. Ho Fan Jason Lee says:

    To be conservative, triggers will be via F6 as there is no WR presented. However, price has shown very bearish candles, and so there can be a retracement back to Resistance zone which might steal some discount.

    Hello Binni, on the above, when trigger should only be a close below F6, how does the discount come into action? Thanks Binni.

    1. Binni Ong says:

      hi jason

      will update on blog post to answer your qn.

      cheers
      binni

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