{"id":8522,"date":"2010-04-13T09:59:36","date_gmt":"2010-04-13T13:59:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8522"},"modified":"2010-04-13T09:59:36","modified_gmt":"2010-04-13T13:59:36","slug":"forex-technical-analysis-dow-jones-industrials","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/forex-technical-analysis-dow-jones-industrials\/","title":{"rendered":"Forex Technical Analysis \u2013 Dow Jones Industrials"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The stock index just barely touched above its record high of 11,000  following the release of the Greek bailout package. The upward move for  the index has not come from large one time gains, but from small  increments of roughly 40 points on average. Traders may have the urge to  pick a top at this point and go short, but better alternatives are  available.<\/p>\n<p>According to the daily chart, the bullish  streak appears to be strong. The index has been consistently following a  rising trend line since February, making contact numerous times along  the way. The price is also trading above the 20 day moving average and  the 50 day moving averages. We can also see the ADX 14 is floating at  43, level, indicating that the trend is strong. Typically we would like  to see the ADX slanting upwards, but any reading above 40 is meaningful.<\/p>\n<p>Now that the Dow has reached a new high, some traders may feel the  need to go short as they believe the market has reached a new top.  Before going short, traders may want to rethink. Trading against the  trend can be dangerous. Traders looking to enter into this type of  market may want to wait for a pullback to a Fibonacci retracement level  before entering. The levels for the daily chart are listed below, but  traders could also find a retracement using the hourly chart or the  4-hour chart to go long.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/dow1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/dow1.JPG\" alt=\"\" width=\"568\" height=\"571\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex               Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and               may not be suitable for all investors. There is a    possibility      that     you   could sustain a loss of all of your    investment and      therefore  you     should  not invest money that you    cannot afford to      lose. You  should  be    aware of  all the  risks   associated with   Foreign    Exchange  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The stock index just barely touched above its record high of 11,000 following the release of the Greek bailout package. The upward move for the index has not come from large one time gains, but from small increments of roughly 40 points on average. Traders may have the urge to pick &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/13\/forex-technical-analysis-dow-jones-industrials\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 Dow Jones Industrials&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8522","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8522"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}