Dow Jones Short Trade Idea 8:1 1000 tick Opportunity

4 Haz

I am currently short Dow Jones aiming for a home run trade that I have been waiting to set up for days now.

My thesis:

Rising wedge into the 80% pullback of the Daily Doji bar

Mean Reversion around March FOMC of 41,155

Break of the support zone of 42,000




If today will be the day it engulfs then I will probably hold all day short

If I am wrong, then price will find support somewhere and bounce, stopping me out. I am willing to try for this idea.

4 Haz

İşlem aktif

I am short 42,575 using a 125 tick stop placed above the 80% pullback retracement level of the daily doji. There have been THREE inside bars, INSIDE that Doji. I have mentioned 1000 tick target, this will likely take a couple of days. I have reduced my target to 700 ticks or 1.75% down. This is something that is achievable within one day if it trends hard. Like always, I close all trades at the end of NY 4pm.