Mini Dow Technical Analysis Report (YM18U) *Update.
Richard O. Zamora III; CMT • Sep 07, 2018
Profit Target Achieved!
One month ago, back on August 9th – I wrote about how Support & Resistance can provide insights as to what profit target objectives to look for when trading the September 2018 E-Mini Dow Futures.
In my discussion, I stated that it was trading in a consolidation pattern but that if an upside breakout was to occur, then look towards the profit target levels represented by the “green triangle” on the chart, which called for a range from a low of 26,150 to a high of 27,000.
As of August 29th, we can observe that the close for the day was 26,147! Not only was the accuracy of my forecast within 3 points but, in fact, intraday levels were as high as 26,185 – thus achieving profit target objectives set. Taking this into consideration, and trading only (1) futures contract, a Technically Trained Trader, would have realized a pre-tax profit of $2,400 for twenty days of work. 😊
While I am pleased that my Technical Analysis was correct, the more important issue is that following proper analysis methodologies, can allow ANYONE to have forecasted this!
So what’s next for the September 2018 E-Mini Dow Futures? Stay tuned.
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