The above chart is of intraday Dow Jones for the 8th October 2007. Simple intra day trading setups have been marked. The first one is a triangle break. Either keeping a trade ready at the break is a good strategy or putting trades of long and short on either side of the triangle is a prudent setup.The second setup is an expanding triangle. The confirmation of the shape comes where the bottom red arrow to go long is marked. Until that point the shape is still not confirmed. And then once you go long you can square positions when it nearly hits the top line. The rise is pretty clean and almost accurate to the line.
We do not trade dow jones but this chart has been given just to explain the different clean setups that can be taken with a very high percentage of success.
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