Dow sell. Lower high post breakout

26 Nis 2020

Here we have a lower high on the 1hr chart on the dow after a breakout of the rising wedge on the daily. Nice engulfing pattern too on the 1 hr candle. Its currently trading above the 200HMA but with all other moving averages are crossed under so its good value for a short here. We could expect some selling pressure here in overbought territory and a test in the first instance of the rising trend line and maybe lower. 4 Hr 200MA is still sloping downwards and daily MA's are still bearish. I'l be looking to scale out some profits at the rising trend line and a break of the swing low on the hourly charts.

27 Nis 2020

İşlem kapandı: durdurma seviyesi

The incredible strength of the dow continued! Nice short term long reversal after getting stopped out